ETC Price Analysis Shows Key Level Of 3.36 Is Intact

The ETC price analysis shows that the altcoin is trading 2.6 percent higher while still falling behind some of its peers. The key element on the charts is the fact that the lows have not been broken yet as we are reading in the following Ethereum Classic news.

As some of the major cryptocurrencies started fighting back today, the ETC/USD pair got higher by 2.6 percent. This is not as high as the other coins did but there is a huge difference compared to the counterparts. The major point of the fact that the lows have not been broken on the downside. Most of the major altcoins such as Ripple and Bitcoin Cash broke the lows during the major crash on the market. If you are looking at the volume you can see a major spike at the lows and this shows only the extent of the support at these low levels. Now the traders have to see if the consolidation is higher to a 5.50 level which will get broken to the upside.

If there is a huge break and close above this level, it could indicate much higher prices ahead for Ethereum Classic.  The market capitalization is standing at $481,970,035 USD as per the recent ETH price analysis with a traded volume of $2,406,909,850 USD while the circulating supply is 116,313,299. The technical chart shows that there is no significant downfall in the prices of ETC since the middle of February, after it reached the lowest level possible today, according to the ETC price update. As the Ethereum Classic bulls run out of steam, there will be a massive dominance of bears and there will still be a heavy hold on to it which is a very concerning point for the traders and the future of the cryptocurrency. What is even worse, the cryptocurrency has a bearish nature.

Ethereum Classic has the technology that Ethereum has but uses the Bitcoin philosophy. ETC is basically hard money with a fixed supply and it is decentralized. The platform values censorship resistance and mostly focuses on trust minimization. For the Ethereum Classic ecosystem, the Emerald Wallet is considered to be one of the best options that provide great services for its users.