Ethereum Classic (ETC) has just formed a bullish hammer candlestick on the daily ETC/USD chart above, which followed by a green candle is a strong sign of a downtrend capitulation as it indicates that the bears have finally given up. This marks the beginning of a new cycle for Ethereum Classic (ETC) as a reversal is expected from these levels. The solid support of $10 has served as a historical demand zone for Ethereum Classic (ETC), and is a very strong one.
As the chart above demonstrates, Ethereum Classic (ETC) rebounded strongly from the $10 support. The RSI had already reached oversold levels and is currently trading above 30. The price has plenty of room for continuous upside movement which could most likely be accelerated by a Coinbase listing next week. Ethereum Classic (ETC) is already seen as the coin that could trigger the altcoin rally. Positive developments are likely to help it do just that.
Read my full analysis about Ethereum Classic's Price Reversal and EOY Targets here.
As the chart above demonstrates, Ethereum Classic (ETC) rebounded strongly from the $10 support. The RSI had already reached oversold levels and is currently trading above 30. The price has plenty of room for continuous upside movement which could most likely be accelerated by a Coinbase listing next week. Ethereum Classic (ETC) is already seen as the coin that could trigger the altcoin rally. Positive developments are likely to help it do just that.
Read my full analysis about Ethereum Classic's Price Reversal and EOY Targets here.
Comment:
Bullish Hammer on Weekly Now! Could this be any more bullish?
