This one is a tougher call and I'm going to wait for ETC to break that downward trend before I consider going in. Reason being, there doesn't seem to be the development or interest in this coin at the moment. Ethereum is releasing a major upgrade soon and ICO's are coming out so often I can't keep up. I'm pretty diligent about looking around, and maybe I've missed something, but I don't see any major news or points of interest here. That being said, ETC is on the floor and has made a small bounce, similar to Ripple. Worth keeping an eye on here, but while I was willing to gamble on Ripple, I'm much more cautious with ETC.
From a pure TA standpoint, there is reason to pay attention and for the risk takers, reason to think about jumping in soon. RSI and STOCH are trending upwards from oversold territory. A nice support has been established and just looking at the history of ETC, when it moves, it moves BIG. Those movements tended to be news based though, or being added to Chinese exchanges, but still...
Keeping a close watch. This one has been falling for ages and if it drops to the next level down, I would certainly wonder about it's overall future from an investments standpoint.
Let's see
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So ETC decided to just poke out of that downtrend on some of the shorter term charts, so I picked up a little. Waiting for a close above the downtrend before i buy more.
That's a very vague analysis, and unfounded. ETC is a 1yr old coin, and by history you mean the two big moves in May and July?
Although this analysis is pretty bad, I do think that ETC will bounce back soon.
Sleeping giant? I don't think so.
1) The recent addition of ETC on Huobi, BTCC and other Chinese exchanges did not cause an increase in ETC value.
2) No interest/development on this coin, that's also wrong. Two big news were announced lately, they are the release of the ETC Emerald wallet and Mantis client.
To be frank, it feels to me that Ripple is the one that is lacking in core development.
dctobkk
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@KesterWong, Fair enough. Agree to disagree. I would say that my profile clearly states that I'm learning as I go and that I am not a pro. That being said, what I have learned is that Ripple was recently added to the US Fed task force for improving global payments and that they also recently had a gateway created between Japan and Thailand for foreign remittance. The first is certainly a vote of confidence by the establishment and the second is a real world use which can greatly help Thai people save money when sending funds back home and vice versa.
My investment and trading feelings on any crypto are based on their purpose and how they are currently performing based off of that purpose. ETC may be quietly grinding in the background, but my assumption was that they were an ETH alternative and a place for ICO's and other dAPPS to launch off of. Emerald is coming and that may be a nice catalyst, but in the past few months, ETH/NXT/NEO/NEM have all been making a lot of noise with product launches and ICO's. I haven't seen much from ETC. As stated, maybe I have missed something. Also, I do believe the Chinese exchanges played a part in their price jumps.
As with both of these jumps, it seems the market bought the rumour and sold the news.
There very well be other factors at play here, but my point is that I was confused by Ripple's decline despite strong news. ETC, I want to invest in. I like the fact that they stayed true to their roots, but as I have no personal attachment to any coin, and am only looking to profit from trading, I have been currently let down by them both but in the short term, I see Ripple working out sooner than ETC.
I could be wrong, let's see.
KesterWong
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@dctobkk, It's fair to say that both Ripple and ETC share the same trend/trajectory for now. As for which outperforms the other, that remains interesting to observe.
dctobkk
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@KesterWong,for sure. i hope they both break out and do well.