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Tuesday, January 31, 2023
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    HomeMarketEthereum Classic eyes the $20 resistance level after its latest rally

    Ethereum Classic eyes the $20 resistance level after its latest rally

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    • Ethereum Basic is the very best performer amongst the highest 50 cryptocurrencies by market cap as we speak.

    • ETC is up by greater than 4% as we speak and has added 21% to its worth within the final seven days.

    • The broader crypto market is underperforming after a optimistic begin to the week.

    ETC is outperforming the opposite main cryptocurrencies as we speak

    ETC, the native coin of the Ethereum Basic blockchain, is the very best performer amongst the highest 50 cryptocurrencies by market cap as we speak. It’s up by greater than 4% within the final 24 hours, and the price of Ethereum Classic now stands at $18.73.

    In line with the crypto analytics platform Santiment, Ethereum Basic is having fun with a reasonably good rally of its personal. Not solely is quantity excessive, however ETC can be being shorted huge time by merchants on exchanges.

    This latest cryptocurrency news may very well be the main catalyst driving ETC greater. The broader crypto market had a optimistic begin to the week however is now retreating. The full crypto market cap stands at $817 billion, down by lower than 1% within the final 24 hours. 

    Bitcoin and Ether proceed to take care of their costs above the $16,800 and $1,250 ranges, respectively.

    Key ranges to look at

    The ETC/USD 4-hour chart is bullish as Ethereum Basic has been performing nicely over the previous couple of days. The technical indicators present that ETC is outperforming the broader crypto market.

    The MACD line is deep throughout the optimistic territory, indicating that the bulls are answerable for the market. The 14-day relative energy index of 78 exhibits that ETC may enter the overbought area if the rally continues.

    With the bulls in cost, ETC may surge previous the primary main resistance degree at $20.12 earlier than the tip of the day. Within the occasion of an prolonged rally, ETC may commerce above the $23 psychological degree for the primary time since November 2022.

    The place to purchase Ethereum Basic now

    eToro

    eToro gives a variety of cryptos, similar to Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro customers can join with, study from, and replica or get copied by different customers.


    Buy ETC with eToro today

    Public

    Public is an investing platform that permits you to make investments shares, ETFs, crypto, and different property like tremendous artwork and collectibles—multi functional place.


    Buy ETC with Public today



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