BUZ INVESTORS ETHETC The pair moved down, broke the triangle support at $49.00, opening the doors for a move towards the range support at $48.00. It has already tested the $48.00 support once and failed to break it. The current H2 candle is positive, suggesting the price may recover in the near term.
A break below $48.00 could lead to further declines, testing the lower end of the range support around $47.00. It is a crucial support and may play a key role for Ether price.
On the upside, an initial resistance is now at $49.00. It also represents the 50% Fibonacci retracement level of the last drop from the $50.05 high to the recent low near $48.00. Above $49, the next hurdle is around the $50.00 handle.
A bounce from the range support could signal an attempt to challenge the all-important $50.00
While there was a healthy amount of debate and disagreement, eventually most of the Ethereum network switched to the hard fork. However those strongly against the hard fork have decided to maintain the pre-fork chain and reject the new chain. Thus the Ethereum Classic project (ETC) was born.Recently the Ethereum network successfully forked it’s protocol so as to return the compromised funds taken from the DAO smart contract and return them to DAO token holders.
As of yesterday Poloniex, the largest ETH exchange, announced that they have added market support for Ethereum classic.
What this means is that if you were holding ETH before the hard fork, your tokens now exist in 2 separate realities: ETH and ETC. Markets exist for both so you are free to hedge your bets on whichever version of the chain you think will be successful. You can essentially sell all of your ETC while maintaining all of your ETH, or vice-versa.
The problem is that separating your tokens on each chain carries risk. Specifically something called a replay attack. A number of solutions have been proposed and this post aims to walk you through one such method. While I make no guarantees for this method, I can confirm that I have used this method successfully using 5+ accounts. I’ll be making use of smart contracts which you need to trust for this procedure, but I’ll give a brief explanation of how they work.
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