Coin of the day is Ethereum Classic.
Ethereum Classic started to show a significant growth lately, let's see what its all about and what to expect further.
Recap
In 2016 after the hack a venture capital fund called The DAO, which was built on the base of Ethereum, the decision of a hard fork was made: the old version stayed as Ethereum Classic and a new one – Ethereum.
Basically, Ethereum Classic came into existence when some members of the Ethereum community rejected the hard fork on the grounds of "immutability", the principle that the blockchain cannot be changed, and decided to keep using the unforked version of Ethereum.
Latest news
August 6 - Listing on Robinhood platform. From Robinhood blog: “Starting today, you can invest in Ethereum Classic on Robinhood Crypto, commission-free.”
August 7 - Listing on Coinbase. Announced on June 11 on the company blog and the correct date (August 7) was announced on Twitter on August 3d.
Technicals
The coin added 50% of value during the last days and broke the Bearish Tendency Trend line along with 100-days EMA, both are clearly bullish signs. Nonetheless, it is worth to remember that after the growth on new listings the price often goes into a correction. So, despite the fact that these events are positive in the long run, for now, we expect a correctional movement. 0.0025 level and 100-days EMA should play a supportive role if ETCBTC is going to continue an upward rally. 0.003 will be a major resistance and target in near-term. If the price will go below the 100-days EMA the next downward target will be 0.002 level along with global Bullish Trendline, crossover of which will make an overview negative.
Ethereum Classic started to show a significant growth lately, let's see what its all about and what to expect further.
Recap
In 2016 after the hack a venture capital fund called The DAO, which was built on the base of Ethereum, the decision of a hard fork was made: the old version stayed as Ethereum Classic and a new one – Ethereum.
Basically, Ethereum Classic came into existence when some members of the Ethereum community rejected the hard fork on the grounds of "immutability", the principle that the blockchain cannot be changed, and decided to keep using the unforked version of Ethereum.
Latest news
August 6 - Listing on Robinhood platform. From Robinhood blog: “Starting today, you can invest in Ethereum Classic on Robinhood Crypto, commission-free.”
August 7 - Listing on Coinbase. Announced on June 11 on the company blog and the correct date (August 7) was announced on Twitter on August 3d.
Technicals
The coin added 50% of value during the last days and broke the Bearish Tendency Trend line along with 100-days EMA, both are clearly bullish signs. Nonetheless, it is worth to remember that after the growth on new listings the price often goes into a correction. So, despite the fact that these events are positive in the long run, for now, we expect a correctional movement. 0.0025 level and 100-days EMA should play a supportive role if ETCBTC is going to continue an upward rally. 0.003 will be a major resistance and target in near-term. If the price will go below the 100-days EMA the next downward target will be 0.002 level along with global Bullish Trendline, crossover of which will make an overview negative.
