ETC has launched off an amazing accumulation zone, both against BTC and the dollar. Their developments are ramping, Korea seems highly bullish on it on Bithumb as well. Amazing market cap that seems to be lagging in terms of market valuation since smart contracts are now set at a 10 billion + cap by precedent. It makes complete sense for a Coinbase add, seeing how BCH was added recently which was expected, and ETC should be next as the other promising chain split token with great volume and liquidity for Coinbase's institutional investors. High timeframe momentum looks great, MACD crosses all around on every high frame as well.
Against the dollar we are being propelled, and I would expect it to hold in a BTC dump as well as gain in a BTC rise. ETC is about to have its moments and I would expect it to hit all uppermost fibs, possibly even breaking the 4.764 at 80+ dollars.
At this point you will have to trail the price with bids and catch any panic/impatient sellers, as we have had plenty of time to enter the market, as seen in my prior ETC chart tagged below.
I can't understand what is so different between ETC and ETH except for the people behind it. There is no logical reason why it should be at 40 and ETH at 800 or so. is $38 a good entry for long term? 2-3 months?
Papou
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@imkeshav, There is plenty of fundamental differences. Should take the time and look into it. I am buying whatever dips I can, both against btc and the dollar. I would expect 2-3 months however are new trading volumes are insane, and dips are getting bought aggressively. Moves are manifesting much quicker this time around.
imkeshav
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@Papou, Thanks I will try to dig in. I did a quick chart and we appear to be in the 3rd wave, so 1st wave top was around 21 and 2.5X is 52. Do you really think it will go 80 in the 3rd wave. It looks likely that it will have a correction before reaching that goal and beyond
Papou
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@imkeshav, not sure how you are doing your elliot waves, we seem to be in a third of a small set but only in wave 1 of a large move to come. I think we will break $80 honestly IMO, especially if a coinbase add. $80 is just a conservative number since it should be 10% of ETH at the minimum.
imkeshav
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@Papou, I'm still a novice at Elliott waves. But I realized after investing in BCH at 330, that we can't comprehend the growth of cryptos. BCH was thrown under the bus for a long time, and I see the same cold shoulder being applied to ETC. Too much of a herd push to ETH or even NEO. I will definitely differ to your judgement and buy ETC ASAP. Even if there is a dip, in the long term this appears to be very undervalued at this moment. Thanks