Ethereum Classic (ETC) - Unexpectedly Classic Tokens Have No Potential - Kakiforex | Forex markets for the smart money. Ethereum Classic (ETC) - Unexpectedly Classic Tokens Have No Potential Ethereum Classic (ETC) - Unexpectedly Classic Tokens Have No Potential

June 4, 2021

Ethereum Classic (ETC) - Unexpectedly Classic Tokens Have No Potential

 Ethereum Classic (ETC) is the ‘hard fork’ of Ethereum (ETH) launched in July 2016. Serves as a smart contract network and has the ability to support decentralized applications (DApps).


Ethereum Classic is rooted through the Ethereum legacy chain (ETH) run by Vitalik Buterin and Gavin Wood. More interestingly, ETC has outperformed ETH by more than three times based on year-to-date (YTD) price movements.


In early May, unexpectedly Ethereum Classic had soared over 300% stemming from speculation or hype among retail investors when the token was listed on the Robinhood trading platform.


Social media sentiment suggests amateur investors prefer ETC because of its cheap value compared to ETH at current prices.


Let’s take a closer look at the current movement chart of the ETC/USDT price.


The ETC triggered a good record in the market when it made a jump of over 300% with its all -time high (ATH) at the $ 176.16 price level on May 6, 2021 and declined again when influenced by the fall in the price of Bitcoin (BTC).



If the price movement returns to make a rise, the SBR level (support become resistance) around the price of $ 80 must be broken first before continuing to rise to the next SBR zone.


According to the expectations of crypto analysts, a higher rise will lead to the resistance level around $ 130 if it breaks the SBR zone of $ 100- $ 110 and will record a clear uptrend.


However, if the ETC price movement returns to see a bearish pattern, the previously reached $ 40 support level will be tested again and will be the observation of investors.


At the time of writing, Ethereum Classic traded $ 63 down 9.32% in 24 hours. Ranked 21st with a direct market limit of $ 7,357,459,320.