Digital Currency Revolution Series: ETC/USD Outperforms Among Crypto-Avenue on Ethereum Classic Atlantis Hard-Fork

Of late, Ethereum classic has shown considerable returns, more than 92% in just 4-months, currently, trading at 9.657 level against a dollar. The bullish streaks have continued for this month as well on 

Stevan Lohja, the Technology Coordinator at Ethereum Classic Labs, one of the first blockchain-focused incubators that supports the development of various projects on the Ethereum Classic (ETC) network, has confirmed that the Atlantis hard fork for the Turing Complete platform will be activated.

Technically, ETCUSD for today is outperforming among the entire crypto-universe (jumped more than 8% from its day’s lows). The bulls have been showing steady uptrend after breaking-out the stiff resistance levels at 7.972 while both RSI and stochastic curves show upward convergence to these rallies that indicate the strength and intensified buying momentum (refer daily chart).

While on a broader perspective, the bullish engulfing candle has occurred at 4.857 level (during last December), ever since then the uptrend has been stimulated upon this bullish pattern.

Consequently, the bullish swings have gone above 7 & 21-EMAs with the bullish crossover (weekly chart). Currently, the trend is on the verge of hitting 7-months highs, and the rallies are in sync with both the leading & lagging oscillators. Hence, it is good to capture dips as an ideal entry-level to go long for the target up to 10.951, maintain a strict stop loss at 9.012 (spot reference: 9.4 levels), thereby, one can achieve an attractive risk/reward ratio. 

Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards -95 levels (which is bearish), while hourly USD spot index was at -89 (bearish), while articulating (at 11:52 GMT). 

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex