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Has Ethereum Classic (ETC) Failed As A Cryptocurrency Investment?

Ethereum Classic (ETC) has remained strong above the trend line support. For a cryptocurrency that just suffered a 51% attack, this is some solid resilience. It is like Ethereum Classic (ETC) community has not been affected at all by the recent attack. They are still loyal to the cryptocurrency which is why it loses the least after Bitcoin (BTC) and stable coins during a market crash. We have seen this pattern repeat over and over again. Ethereum Classic (ETC)’s community appears to be more loyal than the Ripple (XRP) community. The difference is that the ETC community is a lot smaller than the XRP community. ETC/USD is ready to test the 5 Week EMA this week and it is likely to break past it.

RSI for ETC/USD is also close to oversold territory on the weekly chart. It has also broken a critical downtrend which means the price has either bottomed out or is very close to bottoming out. Either way, for those who believe in the long term prospects of this cryptocurrency; this is the…

Read Full Story : Crypto Daily™

2019-01-14 16:30:00

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Written by Cryptodaily

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