ETHEREUM CLASSIC: PRICE ANALYSIS & UPCOMING FORK INFO

ddepalma (28)in #altcoins • 7 years ago (edited)

With the upcoming hard fork of Callisto for ETC holders on March 5th (via coinmarketcal), Ethereum Classic has seen some stagnant price action over the past month. Information on the airdrop, Callisto, can be found at the bottom of this article. Previous hard fork coins, such as NXT and ZCL, have shown massive gains at announcement of hard fork airdrops over the past few months.

see charts below

So why hasn't ETC?
Well, to be fair, ETC does have a considerably higher marketcap than both of the other projects I've used as examples. The amount of volume that would need to come in to send ETC to these numbers would have to be massive. Let's look at ETC's charts now.

My thoughts:
-There is an interesting bullish fractal forming, similar to the fractal that occured before the last run-up, i.e.
breakout of previous resistance followed by a re-test of the same price, which is now support.
-The blue boxes are what I marked as potential resistance zones, if price action were to make a run up. You can consider them either targets, or points of interest, whichever suits you best ;)
-FULL DISCLOSURE: I have been trading ETC since December, and rode it all the way up to the first blue box, now I am looking to average myself in.

Right now I'm very bullish on ETC. It didn't reap the full benefits of some of the huge runs other coins made during the last altcoin market run up, but it looks geared and ready to go for the next one. Buckle up!

Callisto airdrop information
https://www.reddit.com/r/EthereumClassic/comments/7pp7dp/ethereum_commonwealth_development_update_11_jan/

Coinmartketcal.com Calender