ETC looks bullish despite the weak looking BTC. While ETC has been trading over a billion in 24 hours BTC continues to break support. I like what I am seeing on the daily chart. ETC is showing a lot of strength and has the potential to break out of the channel to the upside before the Callisto airdrops. I would expect that there is going to be a dump before and after the Callisto airdrop. It gives opportunity to the buyers to pick it up to those who dumped and others will ride the wave -based on a catalyst- and sell to guarantee their profits. In other words, not worrying about the airdrop. Airdrops are usually worth nothing until price matures.
4 Hour looks really good as well.
What to look for:
4 Hour looks really good as well.
What to look for:
- Set stop loss near RSI the black support trend line.
- Look for an inverse break on both RSI and MacD.
- BTC must remain stable or ETCBTC can drop with BTC.
- Momentum looks strong with kumo clouds tightening. Momentum can also push the price to the bottom.
Note
Callisto airdrop March 2nd.BTC drop right after.
Price will take some time to recover but in my opinion I think ETC will be a great low volatility and longterm holds.
This is due to ETC being chosen to be a treasury currency for Cardano ecosystem. In the future, the currency has to be stable to be used as a measurement for a treasury.
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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.