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Ethereum Classic (ETC) Surges 1.49% in 24 Hours, Trends on CoinMarketCap

Ethereum Classic (ETC) has gained 1.49% in the last 24 hours, reaching the 3rd spot on CoinMarketCap’s trending list. Currently trading at $37.44, ETC shows resilience despite seller pressure.
Published on 2022-09-15

Price Performance

Ethereum Classic (ETC) has shown a modest increase of 1.49% over the past 24 hours, currently trading at $37.44. Despite this upward movement, sellers are actively attempting to drive the price downward.

Market Data

ETC is currently ranked as the 17th largest cryptocurrency by market capitalization, with a market cap of $5.12 billion. It is positioned just behind Avalanche (AVAX) and ahead of Wrapped Bitcoin (WBTC). The 24-hour trading volume for ETC has surged by over 70%, reaching $2.64 billion, indicating heightened investor activity.

Technical Analysis

The daily chart for ETC/USDT shows the price positioned above the 9 and 20 EMA lines, a bullish signal. However, recent selling pressure has increased, potentially pushing the price below these key levels. The RSI line is approaching oversold territory, suggesting that ETC may face further downward pressure in the short term.

If ETC can maintain its position above the EMA lines, the RSI slope is likely to stabilize, potentially setting the stage for a bullish reversal. Investors should closely monitor these technical indicators for signs of future price movements.

Disclaimer

The information provided is for educational purposes only and should not be considered as investment advice. Readers are encouraged to conduct their own research and due diligence before making any investment decisions.

The post ETC Posts 1.49% Daily Gains – Breaking Above the 9 and 20 EMAs appeared first on Coin Edition.

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