Ethereum Classic (ETC) has just tested the previous trend line resistance as a strong support and bounced off it starting the day with an almost 4% gain. The daily chart for ETC/USD shows that the price still has plenty of room to rally towards the 200 day moving average which means we could see a price of $6 per coin or higher before the next major decline. Ethereum Classic (ETC) has seen its fair share of negative developments in the recent past but that does not seem to have deterred investors from investing in this promising blockchain project. Recently, Anthony Lusardi of the ETC Cooperative announced his exit but the price kept on rising.
Previously, ETC Dev, the team that is to be credited for the existence of Ethereum Classic (ETC) left the project but ETC Labs took over and the price was completely unaffected by the bad news. A lot of people on Crypto Twitter expected Ethereum Classic (ETC) to decline significantly after ETC Dev left the project but most of the people who expected the decline were not Ethereum Classic (ETC) investors in the first place. One thing about the Ethereum Classic (ETC) community that is quite different from the rest of the communities is that the investors are very thorough and meticulous. Most of the people supporting Ethereum Classic (ETC) are either strong believers in principles of immutability and decentralization or they understand the project well enough to know it is going to be a good investment long term.
The daily chart for ETC/BTC shows that Ethereum Classic (ETC) might end up forming a golden cross against Bitcoin (BTC). If the price ends up shooting above the 200 day moving average and forms a golden cross,