Ethereum Classic(ETC) is one of the most conservative and best plays in my opinion with a breakout imminent in the near future. I'm looking here at this beautiful set up, and ascending wedge that has tested resistance twice and looking to break through on this next attempt. This has been strong resistance as seen in the past annotated by the red circles on the chart. ETC needs to also get above this 200 EMA as its rejected off of it twice as well.
I believe it'll breakout within the next few days as long as BTCUSD holds it ground or moves up. Look for it to break this $23 area and restest that before launching up to the next downtrend line. A break of that trend line should send it flying into the low $30's and up.
Let me know what you guys think! Thanks for reading
Trade active
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Broke resistance and broke out in the last 24 hours. Looking for ETC to hold that $23 area as support. If it doesn't hold there, hopefully we just wick to the trend line and resume that trend.
If you haven't made an entry yet, that $23 area maybe a good one for ya ;)
This resistance is really hard to take. While bitcoin Shows some strenght, etc seems to be weak. At least Short time.
I am still long and hope we will be able to break this huge resistance soon.
I am a little bit concerned about, that etc can also break this wedge toll the down side.
AndylovesTA
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@cmschlch, Broke through resistance, hopefully we hold it as support if not there lets hope it rides back to the uptrend line and keeps most of its gains.