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Ethereum Classic (ETC) Risks Sell-Off As Price Runs Into Trend Line Resistance

Ethereum Classic (ETC) has rallied successfully on short term bullish revival in the market. The price is now retesting a strong trend line resistance that it is unlikely to break. This is because the price has rallied too far too fast and now lacks the strength to break past it. This is likely to result in a rejection which will then push ETC/USD back towards the bottom of the ascending channel. Ethereum Classic (ETC) is a recovering blockchain project with promising prospects long term. However, it has a history of lagging behind when the rest of the market rallies. That being said, it continues to be one of the top cryptocurrencies in terms of daily trading volume. This means that there is still a long term interest in this cryptocurrency. Ethereum Classic (ETC) (original Ethereum chain) was left to die first when most of the developers switched to the newly forked Ethereum (ETH) and later when ETC Dev announced its shutdown.

Even when all odds were against it, Ethereum Classic…

Read Full Story : Crypto Daily™

2019-05-15 23:00:00

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