The weekly chart for ETC/USD shows that the last time Ethereum Classic (ETC) completed a correction; it had a 3615% rally in the next 238 days. Current price action for Ethereum Classic (ETC) shows that its RSI, which is trading in a falling wedge, has to break out in the weeks ahead. The RSI has not been at such critical levels since April 2017. This means that the price of Ethereum Classic (ETC) is now at a turning point where it has to either break to the upside or to the downside.
Considering that Ethereum Classic (ETC) has a lot of positive developments ahead of it and that the price has already bounced off the $10 support with enormous strength, it is plausible to assume that the next break out will be to the upside as Ethereum Classic (ETC) begins a new cycle. The chart shows that the price is expected to reach an optimistic level of $377 or higher in the next cycle that is expected to last till April 2019.
Considering that Ethereum Classic (ETC) has a lot of positive developments ahead of it and that the price has already bounced off the $10 support with enormous strength, it is plausible to assume that the next break out will be to the upside as Ethereum Classic (ETC) begins a new cycle. The chart shows that the price is expected to reach an optimistic level of $377 or higher in the next cycle that is expected to last till April 2019.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.