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Price Analysis

Ethereum Classic Just like any other Altcoin of the market Turns Bearish

Ethereum Classic is now available on Dex-Trade to be traded in. One can trade in ETC against BTC, ETH and USDT. Additionally, the crypto team has successfully activated the Atlantis hard fork which is aimed to improve the functionality and compatibility of ETC with Ethereum.

Ethereum Classic Price Analysis:

On August 24, Ethereum Classic (ETC) was trading around 7.1 USD. From there, in a period of 25-days, it went down by a substantial margin of 12.59%. In the weekly trading duration, the crypto has shown an almost flat trading variation with a marginal hike of 0.24%. However, it projected a drowning trend in yesterday’s trading. The coin opened, yesterday, at 6.40 USD and with a drop down of 2.62%, closed the day at 6.23 USD.

Ethereum Classic Price
Ethereum Classic Chart By TradingView

Ethereum Classic has been one of the best performing cryptos of the year. After a marginal decline yesterday, the crypto got back to its earlier level and is moving horizontally since then. For now, it faces immediate resistance at 6.44 USD and has a support level at 5.98 USD.

The listing on Dex Trade is expected to have a sterling effect on the trading volume of the coin. The activation of Atlantis hard fork will have a long-term ramification on the crypto, however, its effects will take some time in the unveiling.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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