Descending Triangle on ETC - Two Scenarios

We will look at Ethereum Classic here from a technical analysis point of view and discuss two different scenarios based on the descending triangle pattern.

The bullish scenario:
Let's look at the upper line of resistance here. If ETC can break through the upper resistance line of the triangle, we can expect a very bullish continuation of the price. Don't place your long order before it breaks through the line completely as the triangle can push the price down again near this area.

The bearish scenario:
The second important area is the trendline. If ETC can break through the lower trendline of the triangle, we can expect a bearish continuation of the price. Don't place your shorts before it breaks through the line completely as the triangle can push the price up again near this area.

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