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Ethereum Classic<\/strong> ETC\/USD<\/span> was skyrocketing over\u00a018% during Sunday\u2019s 24-hour trading session, in continuation after soaring over 14% higher during Saturday\u2019s session. The crypto was showing strength compared to Bitcoin<\/strong> BTC\/USD<\/span> and Ethereum<\/strong> ETH\/USD<\/span>, which were trading mostly flat.<\/p>\n The surge higher negated Ethereum Classic\u2019s<\/a> downtrend, which the crypto had been stuck in since June 26 when it rejected the $18 level. Although an uptrend has yet to be confirmed on the daily chart, Ethereum Classic has confirmed an uptrend on the four-hour chart and if the crypto can print a higher low on the eight-hour chart next, a daily uptrend is likely to follow.<\/p>\n An uptrend occurs when a stock or crypto consistently makes a series of higher highs and higher lows on the chart.<\/strong><\/p>\n The higher highs indicate the bulls are in control, while the intermittent higher lows indicate consolidation periods.<\/p>\n Traders can use moving averages to help identify an uptrend, with rising lower time frame moving averages (such as the eight-day or 21-day exponential moving averages) indicating the stock is in a steep shorter-term uptrend.<\/p>\n Rising longer-term moving averages (such as the 200-day simple moving average) indicate a long-term uptrend.<\/p>\n A stock or crypto often signals when the higher high is in by printing a reversal candlestick such as a doji, bearish engulfing or hanging man candlestick. Likewise, the higher low could be signaled when a doji, morning star or hammer candlestick is printed. Moreover, the higher highs and higher lows often take place at resistance and support levels.<\/p>\n In an uptrend the “trend is your friend” until it\u2019s not, and in an uptrend there are ways for both bullish and bearish traders to participate in the stock:<\/p>\n
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\n<\/ul>\n Want direct analysis? Find me in the BZ Pro lounge! Click here<\/a> for a free trial.<\/em><\/p>\n The Ethereum Classic Chart:<\/strong> Ethereum Classic negated its downtrend during Friday\u2019s 24-hour trading session, when the crypto printed a higher high above the most recent lower high of $16.35, which was formed on July 8. Eventually, Ethereum Classic will need to consolidate lower to create a higher low above the most recent $13.34 low that was printed on July 13.<\/p>\n
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\n<\/ul>\n See Also:\u00a0How to Read Candlestick Charts for Beginners<\/a><\/em><\/p>\n Photo: Courtesy of\u00a0ETC<\/a>\u00a0on Flickr<\/em><\/p>\n<\/div>\n
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