Ethereum Classic is a leading gainer in the cryptocurrency market. The market has been making incredible gains in the past month. Like many altcoins, ETC has also played a great role in enabling the crypto market to reach a market capitalization of $2 trillion.
Ethereum Classic is trading at $71.05 at the time of writing after a 12.1% in 24 hours.
Ethereum Classic Price Analysis
Ethereum Classic’s volatility has increased in the past few days, and because of this, ETC has made an impressive gain in prices. The coin is currently headed to new highs of $76, and it could retest this level if there is strong buyer support.
Currently, market support is strong, and if buyers rally up and boost ETC’s demand, the coin could be headed to an even larger uptrend. Trading above $70 has created a three-month high for the token and has made its biggest gains ever since the market crashed in May.
Since July, ETC has increased and decreased randomly, informing investors that the dip could also happen again. However, the dips have always reversed, and the altcoin has managed to resume a bull rally. If ETC dips, the lower support level for the altcoin will be at $68. If buyers jump in now, it will contribute to massive gains.
The majority of Ethereum Classic’s gains are attributed to market support. With Ethereum still taking a significant portion of gains, ETC has benefitted from this, hence its recent uptrend. Therefore, we could witness a dip in ETC prices if Ethereum dips as well, given that the two coins are related in price movements.
Ethereum Classic is an open-source platform, which, just like Ethereum, runs on smart contracts. The main difference between Ethereum and Ethereum Classic is that the latter chose to maintain the original version of Ethereum’s core code. It hence makes a good choice for those who believe in safeguarding Ethereum’s originality.
Where to Buy ETC
If you want to purchase ETC, you can do so from the eToro cryptocurrency exchange. eToro is one of the leading exchanges. It supports a wide range of tools and features. eToro is also reputable for charging low trading and supporting new traders through innovative tools like copy trading.
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