Ethereum Classic Price Spikes, Up By 12% As The Market Sees A Flush Of Green. Wednesday, November 28th
Ethereum Classic Price Spikes, Up By 12% As The Market Sees A Flush Of Green
Today, the bulls are wide awake! They are up and hard at work. Hopefully, this time they will make it stick. In the last couple of hours, the market has seen bulls move in and take control of the market. At the time of press, most major cryptocurrencies have surged. The response by altcoins has most likely been triggered by bitcoin which has soared and gone above the $4,000 position.
The move by the bulls has quickly seen the market cap climb above the $130 billion mark and at the time of press is just above $132 billion. Ethereum Classic takes a share of $510,450,483 and is ranking 17th.
ETC/USD Price Chart, Wednesday November 28th:
Among the best performers of the day is Ethereum Classic which is up by 12%. Following the recent surge, Ethereum is just $0.20 shy of hitting the $5.00 position which could potentially launch it for even greater gains in the short term. If the bullish momentum continues, we should see Ethereum Classic climb just over $5.00 in the coming hours.
Some of Ethereum Classics gains have come from news that Coinbase wallet will now support the coin. This has largely boosted the coin’s performance since Coinbase Wallet remains one of the best wallets mainly because it is provided by Coinbase- the biggest crypto exchange in the U.S.
Ethereum Classic’s surge comes after the coin hit a new year low of $4.27 yesterday. At the time, there was real concern that if the coin dropped below $4.00, it would trigger one of the worst sell-offs. Fortunately, the coin found support which has today allowed the coin to bounce back up.
The bulls will now be looking to get prices above $5.00 in the next couple of hours and keep it above it. In the short term, a $6.00 position looks possible with the bulls still looking to get back above $9.00 where the coin began the month.
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