Ethereum Classic VS Bitcoin – Bullish Divergence

Ethereum Classic does start to gain some bullish momentum after forming a positive divergence on the RSI oscillator. ETC/BTC tested the low at 0.0013 where it rejected the lower trendline of the descending channel.

Today Ethereum Classic broke above the 2-week high, testing BTC 0.0021 level while gaining 60% against Bitcoin during the last 7 days.

At this point, it could be too early to say that trend is reversing, but first signs of it are already appearing. ETC/BTC could consolidate a little longer and even test 0.0021 again. Nevertheless, a correction or a reversal up can be expected in the medium term.



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