Where You At Twitter Followers?! Ethereum Classic!! (ETC) =D

Hi friends! Congratulations to my runner up voters on Twitter, who voted ETC during this week's #CoinVote! Without further ado, I'd like to welcome you to this new analysis, fresh outta the box, on Ethereum Classic! Let's get it. Looking at the four hour chart, you can see that ETC has just broken the rising black support level. Currently, price is testing support from the high made on 1/28. You can see that the 50 EMA (in orange) has also been lost, and the volume is overwhelmingly red. Additionally, we can see that the MACD is expanding to the downside, indicating an increase in sell side momentum. The next downside target is the 38.2% retrace, around 31.80. Just below that, we have the 200 EMA (in purple) right around 30 bucks. With that said, there has been a significant decline since the recent high, so a pause may materialize. There aren't any real indications of that, at this point, other than the small bounce off of the support from the high on 1/28. However, if that support falls, the 382 will be up next. On the upside, the 50 EMA could cap any rally attempts. We could start to build a head and shoulders pattern here, with all of the recent action being the head and the left shoulder, but there isn't any evidence of that yet. For now, just know that a breakdown has occurred, below the black uptrend support, and the 50 EMA. A relief rally could ensue, but further downside is likely to follow. I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic. Au revoir.

Ps. I DO realize that we could be building a MASSIVE inverse head and shoulders pattern on this chart. Let's see some further development first. ;)

This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-MPC loves you-

-JD-