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Ethereum Classic Declines; Will ETC Go Below March 2021 Levels?

Ethereum Classic is surrounded by the controversy that led to the birth of Hardfolk ETH, which is ranked as the second largest crypto network offering multiple services. ETC offers similar benefits, but could not reproduce the success of its hard fork rivals.

At this stage, ETC is ranked 29th by market capitalization. This is a testament to those who are moving to innovative blockchain networks. ETC’s current market capitalization is valued at $ 2,003,600,926, with 64% of its total supply already in circulation.

Since the cryptocurrency winter, ETC has been unable to stick to a single level of support. Relentless profit bookings show a broader negative stance on non-basic crypto networks, even with the latest transaction amounts. Violating the previous integration zone and marking a breakout at $ 20 lost the possibility of purchase. Buyers and enthusiasts are now waiting for the crypto summer to come back.

The Ethereum Classic is now at the foot of a new collapse, jumping from its June 2022 low of $ 12.5. The potential for breakouts and uptrends, despite the possibilities, seems to be too far, as the tech is deteriorating. read more Click here for ETC and its pricing history.

The Ethereum Classic price trend remains negative, with a slight uptrend remaining the only silver lining in the short term. The surge at the $ 20 level required buyers to rethink the decline in ETC tokens.

Transactions above $ 20 may encourage buyers to take advantage of the rally in the short term, but the outlook remains negative until the Ethereum Classic price reaches $ 35. Inspired by the RSI index, we can expect a short-term rise in ETC prices. In addition, the MACD indicator also avoids producing a bearish crossover display.

The immediate support level to buy remains limited to the latest $ 12.5 drop, while the immediate resistance level shifts from $ 28 to $ 20. $ 58 remains the most difficult level for the Ethereum Classic to violate.

Short-term hourly charts have witnessed a sudden stop in the gradual rise in ETC levels since the beginning of July 2022. A slight loss of 3 hours indicates sold out or dumping. ETC will slowly return to the $ 15.5 level traded during the positive hours of the day.

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