Implications and Outlook
1. As stated on August 4, Bitcoin, Daily Chart Analysis, ETC (Ethereum Classic) was and is one of the exceptional coins, since there no significant good outliers among the list of smaller coins anywhere.
Currently, ETC is one of the top twenty crypto coins by market capitalization, ETC continuously is claiming further gains, up to further over 6% on the trading session. At the posting time, ETC is trading at or about $18.700 level by completing the inner Coin Rally as well as printing a new second quarter high at $21.
The coin continues to ride on positive price momentum induced by news reports of its impending listing on well-liked headquartered in San Francisco, California crypto exchange, and wallet service - Coinbase, the listing is set for today (August 7).
2. Price action has created the value of the new intermediate-term inner Coin Rally of $21, by overrunning Key Resistance $18.700 which is a part of the outer Coin Rally valued at $22.700.
3. Should the bearish momentum hit this support in the interim; it would be a negative sign from a technical as well as fundamental perspective.
4. The value of the intermediate medium to long-term Mean Support of $16.400, along with Key Support $14.600, will be a primary target for the bears.
5. Current Coin Strategy Bias: Bullish 60 / Bearish 40
1. As stated on August 4, Bitcoin, Daily Chart Analysis, ETC (Ethereum Classic) was and is one of the exceptional coins, since there no significant good outliers among the list of smaller coins anywhere.
Currently, ETC is one of the top twenty crypto coins by market capitalization, ETC continuously is claiming further gains, up to further over 6% on the trading session. At the posting time, ETC is trading at or about $18.700 level by completing the inner Coin Rally as well as printing a new second quarter high at $21.
The coin continues to ride on positive price momentum induced by news reports of its impending listing on well-liked headquartered in San Francisco, California crypto exchange, and wallet service - Coinbase, the listing is set for today (August 7).
2. Price action has created the value of the new intermediate-term inner Coin Rally of $21, by overrunning Key Resistance $18.700 which is a part of the outer Coin Rally valued at $22.700.
3. Should the bearish momentum hit this support in the interim; it would be a negative sign from a technical as well as fundamental perspective.
4. The value of the intermediate medium to long-term Mean Support of $16.400, along with Key Support $14.600, will be a primary target for the bears.
5. Current Coin Strategy Bias: Bullish 60 / Bearish 40
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.
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.