Ethereum Classic market report - ETC/BTC - 16 Feb 2018

Taking a look at the Ethereum Classic vs the Bitcoin markets to get an idea of what we are up against. As we can see ETC is clearly in a bearish trend vs Bitcoin on the shorter time period and we are testing the 200 ma on the 1hr chart. There is some bullish pressure as we can see from the RSI, but there is also a good amount of sellers in the market as prices continue to dip lower. There is some strong resistance at 0.0034 where the bears are camping for the time being. The bulls are hanging out around 0.0032 and I will wait to see if there is any buying volume should prices drop into their zone. Should 0.0032 fail as support I would imagine a lot of speculators might look for greener pastures to lock in further gains.