› Etherium Classic slides after growing 45%

Etherium Classic slides after growing 45%

The cost of altcoin exceeded $20 two weeks ago, the first time in three months. The intraday maximum was posted at $20.58 on August 6. Thanks to that ETC was in top-10 cryptocurrecnies in the scope of capitalization. But that achievement was temporary and it took 11th line. The growing price of the cryptocurrency was based on Coinbase listing expectations, one of the main popular cryptocurrency exchanges. Moreover, another news had caused the rise: Rbinhood Crypto popular application added ETC in their listing.

The upside run started on August 3, when Coinbase announced the final stage of the support testing for Etherium Classic before the listing. There was also initial publication from the Coinbase, which supported Etherium CLassic 6 weeks ago and the cryptocurrency started the upside run from local bottom at $12.7.

After failing to breakout of the $20 level by closing daily prices, the cryptocurrency started 8-day falling streak losing almost 50% of it’s value and testing $10 support level recently. The price action from yesterday could mean the the local bottom has been found and the long shadow of the candlestick might indicate the fact that bulls came back to the market. Further volatility is expected on the overal market, not only for ETC.

Etherium Classic slides after growing 45%

Read also

You have successfully registered

You can choose the needed type of account at any time!