Just for fun I did the "Moon Phase" analysis, and in this most recent cycle, it seems like ETC falls after a , and then steadily rises after a (not sure why TV's default for a "new moon" is white and a "full moon" is dark). I personally don't think the lunar phase is affecting the price, but rather that this just seems to coincide with the general trend. The good and bad news it new is today, so expect a few more days of dropping to then be met by a reversal. The lag on the daily before seems to start going up is 4-5 days afterward, and it peaks on the daily 1-2 days before the . So, if this moon a bottom of around 265 on March 6-7, and a top around 491 around March 15-16.
Once again, I am not claiming the lunar cycle is what is affecting the price, but rather that the exact same pattern has occurred the past three lunar cycles. Will it happen a fourth time within this general upward trend on the daily??
THIS IS NOT INVESTMENT OR ASTRONOMY ADVICE!!!
Note that we reached ~0.002300 on January 16, and bounced off of that, and this is similar to where we hit this time. In late December, that seemed to be a point of resistance. That area tended to be one of resistance and then support back in November also. So, consistently staying above that on the daily candles closes seems to be important for this pattern.
Also, note that volume tends to increase following the full moon, and decrease following the new moon (as a VERY general trend), but has been steadily decreasing.
The gradual selloff may indeed be related to the airdrop - people being afraid about a massive selloff afterwards may not have wanted to buy, due to fear of being burned quickly. So, now that the airdrop has passed and the fear of a rapid dump should be diminished, maybe there will be some more enthusiasm for buying this coin... especially if Bitcoin stabilizes for a bit.
Regardless, IF THE PATTERN CONTINUES as it has for the past three moon cycles, we should still expect to see a high in the next 10-12 days.
Once again, this is not investment advice, nor is it a "cause and effect" idea, but rather a pattern analysis. We are looking for repeatable patterns, and this pattern has repeated itself consistently in the past three lunar cycles.
Let's see what happens in the next 10-12 days.
If the pattern stays true, a target >0.0045 is achievable in the next 14 days or so if the trend continues.
Again, not saying the moon is causing this pattern (and I looked at a few other altcoins and didn't see any such patterns), but perhaps ETC's cycle closely (though not perfectly) corresponds to moon phases.
THIS IS NOT INVESTMENT ADVICE!