Ethereum Classic Community Expectant of A Great Year for Coin. ETC +1.60% - Ethereum Classic News. Friday, August 24
Ethereum Classic Strengthened Against the Dollar
Ethereum Classic is currently trading at $12.49 having had a reasonably sideways trading. The coin is up by 2.14 percent against the dollar having found a strong support at the $11.80 mark.
The coin earlier broke the $13 support during the last fall but found the $11.80 a comfortable support in which the bear resistance is low with a major bullish trend line located at the $12.60 mark. Having tested $13.50 earlier in the week ETC was unable to sustain the bullish trend and fell all the way to $11.89 before it found support.
Had the coin not found rejection above $13.50, it may have pushed onwards to $15 considering a string of positive indications in the recent times. The retraction went so low that the $12.50 support was broken.
The coin has broken major bullish trendline having a support at $12.60 and started consolidating after finding a new support at $11.90.
Ethereum Classic Community Expectant of A Great Year for Coin
Although Ethereum Classic has not yet experienced the level of acceptance its parent company Ethereum has, a string of positive news surrounding the coin has made the community upbeat that the year is a harbinger of good things.
The coin has had a smooth ride up to August when it reached the $20 mark before the crypto market crash on the 18th.Prior to then, Skrill the global payment service had announced its support for ETC. Even though the Skrill crypto service is not as widespread as its payment platform, it was a boost to Ethereum Classic in terms of potential for adoption.
Later, the Coinbase listing caused a 50 percent spike in the value of ETC. This whittled down as the coin market contracted. These with the Robinhood app support and the news that Grayscale holds $90 million worth of ETC are uplifting for the Ethereum Classic community.
ETC/USD Price Chart, Friday August 24th:
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