On my last post on ETC/USD ( february 9 ) i said :
-Price breaks down, before retesting, and coming back to the upside. If this set up plays out, I am expecting the up move to the upside horizontal target zone.
As we can see the price break down the 02-11 until $21 .
More specifically, the Ethereum Classic has increased by 12.6% in the past 24 hours. Given Bitcoin's current 3.4% loss in the same period, this gain is pretty interesting to keep an eye on.
To put this into perspective, the Ethereum Classic price went up by 15.6% in USD value, pushing the price to $ 29.63. At the same time, the ETC / BTC ratio rose by 17.72% in favor of the alternative cryptocurrency as well. With such solid gains in both departments, things are looking pretty solid for Ethereum Classic right now.
With $712m in 24-hour trading , Ethereum Classic looks rather impressive when looking at the bigger picture. After all, the overall cryptocurrency trading has dropped from over $24bn to just $17.2bn in the past 24 hours, which seems to indicate further momentum will materialize in the coming days and weeks. A will undoubtedly impact the Ethereum Classic price at some point, thus cashing out the current profits may not be a bad idea altogether.
Watch very closely
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