My Poloniex Day trading #cryptocurrency of the day is Ethereum Classic. The ETC:BTC paring has been on an upward trend and has seen a 22% gain over the last 48 hours.
As of right now, the Ethereum Classic price hovers near $38, and may very well push to $40 again.
There is some negative pressure forming on the ETC chart already, but no sudden $7 jump will go unpunished in any market.
Next week the ethereum classic (ETC) community is expecting to receive coins from a ‘snapshot’ fork called ‘callisto’ (CLO). The clone will be an exact copy of the ETC chain up until block 5,500,000 and ETC holders will receive a 1:1 ratio of CLO coins.
As for now the RSI is showing me there is a little more room for growth. I’m thinking my MA lines will cross at about the 0.0038 price point and the Bulls will top off at about 0.004 before we see a correction. Watch the volume and remember taking profits is always better than holding a bag.
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