RATE Group | Ethereum Classic (ETC) Consolidates Before A Breakout Against Bitcoin (BTC)
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Ethereum Classic (ETC) Consolidates Before A Breakout Against Bitcoin (BTC)

02 Dec Ethereum Classic (ETC) Consolidates Before A Breakout Against Bitcoin (BTC)

Posted at 08:43h in Ethereum News by

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Ethereum Classic (ETC) just like most cryptocurrencies broke below many critical levels during this correction. It broke market structure trading against the US Dollar (USD) and ultimately settled around $4. Ethereum Classic (ETC) demonstrated significant weakness trading against USD but it has remained incredible strong against Bitcoin (BTC). If we look at the above daily chart for ETC/BTC, we can see that Ethereum Classic (ETC) has held all critical levels against Bitcoin (BTC) so far. It has managed to remain above the trend line and is now ready for a move up as the market recovers. The expected move in play here is that Ethereum Classic (ETC) might rise against Bitcoin (BTC) during the mini altcoin rally that is to follow after the recovery.

Ethereum Classic (ETC) is not likely to break out of the current downtrend against Bitcoin (BTC) anytime soon. It might rise or fall within the wedge but it is unlikely to break out till late 2019. Trading volume has…

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