The price of Ethereum classic turns red today as one of the few coins that did so with the new market conditions. Ethereum classic is maintaining a gradual downfall today and starts moving towards the $4.80 price level as it hits the biggest bearish momentum of the week. Let’s look at the latest ethereum classic news and find out more.
The ETC/BTC pair is also performing negative and even made a loss of 1.94% bringing the levels to 0.00076612. The ETC prices were unable to maintain the static climb and acquired a negative momentum. Over the past week, there was heavy volatility in the ETC prices between the $5.10 and $5.00 level. There was a strong resistance as well as $5.50 which stopped the prices and forced them to go gain more negative divergence. The prices are trading below the $5.00 level and they are about to test the $4.80 price level.
The market capitalization of the coin is $570,020,895 with a traded volume of $1,369,348,651 and a circulating supply of 116,313,299 ETC. The technical charts show that Ethereum classic turns red since the price was unable to make a climb. ETC suffered a heavy downfall in every aspect and the bearish nature of the market put the bears into a dominating position so the prices were unable to acquire a stable level to stand against the odds. The technical charts show an increase in the selling volume of the Ethereum classic price.
The MACD levels are showing both sales and buy volumes on the same level. The one who comes out 1st will be the deciding factor. The global market’s factors are not in support of the ETC prices. The 24-RSI show a dramatic downfall as well and it is falling down to the bearish zone since it is currently below the level of 50.
Ethereum Classic outlines new policies and procedures based on its core principles, as it enters a new era in development. The organization expressed their problem with modern money, property and agreements and how it is all about them running largely on centralized systems such as financial institutions, tech companies and several other types of industries which are controlled by the trusted third parties. In this case, the trusted third parties become the security holes
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