ETC/BTC in Limbo I think we can all agree that the ETC is a slow moving coin. Not much volume. Wish there was more interest as volume would increase thus more volatility. But we'll have to see how investors react to upcoming news from the Dev team.
We saw a test of the support level 0.001973 which lined up great with my descending triangle , bouncing right up. Again, we saw a lack of interest from bulls. A critical point of resistance would be .002277 as this would help it cross the 50 MA as well. An unsuccessful break of this resistance and a break below fib .001970 may take it back to very low levels as low as .0018 or even .0014
We can also see a consolidation of the Bollinger Bands. This may indicate a break out.
Please note the Daily RSI may be indicating further retracement.
Overall we may see more retracement as we follow a downtrend with lower highs and lows.
What are your thoughts? Let me Know :)
