Ethereum Classic technical analysis

BTC-ETC daily chart

Ethereum Classic has been showing strength during the Bitcoin crisis in the past, so I have been keeping an eye on it. It's a second red day as of now and we are seeing a slight growth in the ETC price. But the daily chart is suggesting that we are still in a bear market and most likely diving even deeper.

BTC-ETC daily

Going forward

We might still see the day like July 12th when price has gone from 0.0060 BTC to 0.0078 BTC, but nothing is suggesting, from a technical perspective, that it will happen any time soon. And I am advising against buying Ethereum Classic now, as the price drop is imminent.

My view

I still believe that Ethereum Classic is a good coin to hold long-term. And it will find it's purpose by the time people actually start using crypto-currencies as a money for daily purchases. Until than it is up to us, to build the trust around the coins and people that are looking for a solutions, not a personal gain.

Previous posts

• STEEM technical analysis:
https://steemit.com/trading/@eviljedi/steem-technical-analysis
• Bitcoin Cash (ViaBTC) - User Activated Hard Fork (UAHF):
https://steemit.com/bitcoin/@eviljedi/bitcoin-cash-viabtc-user-activated-hard-fork-uahf
• Litecoin technical analysis (update):
https://steemit.com/trading/@eviljedi/litecoin-technical-analysis-update
• Ethereum technical analysis
https://steemit.com/cryptocurrency/@eviljedi/ethereum-technical-analysis
• Litecoin and Bitcoin technical analysis:
https://steemit.com/cryptocurrency/@eviljedi/litecoin-and-bitcoin-technical-analysis
• Monero technical analysis:
https://steemit.com/trading/@eviljedi/monero-technical-analysis

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