SUMMARY
Ether Classic (ETC) made a very nice impulse waves as shown by white 1,2,3,4,5. And since Elliott Waves states that after a five wave impulse, there is a requisite three wave correction, ETC has been in this correction since May of this year when it hit a high of $26.62. This correction pattern is also forming a bullish flag as outlined by the two white lines.
It seems there is still a bit more correction to go as the red a,b,c label shows. This means ETC is in its terminal stage of the red wave c correction. Now, when is the best time to ladder in? At the terminal end of a wave c correction! Once the c wave is done, a sizable impulse wave set should take ETC to $49.
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**
ETH is getting increasingly difficult to mine on GPUs. With the difficulty bomb from the Metropolis hard fork updates and coming shift towards partial proof of stake, where will miners turn their hashing power to? ETC, Zcash, XMR.. or maybe even Bitcoin Gold?
Will we see something similar from ETH? It seems stuck around $300 for a while. ETC going up should make the sentiment about ETH very bullish.
ETH and ETC can go non phasic too.
Thank you for the analysis @haejin!
Any news on ETC?