ETC Price Update: Ethereum Classic Faces Another Downfall

Following the latest ETC price update, we can see that Ethereum classic is facing another downfall since mid-February which mostly erased the existence of the bulls. The ETC/BTC pair performed quite poorly with an overall loss of -5.96 percent which brought to a level of 0.00076585 as we are reading in the ethereum classic news.

On the 7-day charts, we can see a continuous downfall after the breaking of the support price of $6 this week, where there was a sharp decline leading the ETC price to the lowest level possible. After sustaining this massive downfall, ETC is trying hard to climb back up and even made various attempts today. However, a crucial resistance level of $4.17 is where the bulls are having a hard time to recover the price levels that are aiming to go above the crucial mark of 4.388 percent, posing a negative sign for ETC holders.

The market capitalization is standing at $481,970,035 USD 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.

The technical indicators and oscillators show heavy selling volume with heavy bearish dominance as well.
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The MACD levels are trying to survive in the bullish zone and show major dominance of the bearish approach and also a major selling volume. The 24-hour RSI shows a negative divergence, leading Ethereum Classic to the lowest level possible. The price of the altcoin tried to climb up to the normal zone but ended up developing a long downtrend nature without reaching an average zone. The 24-hour CCI also shows being hit quite a lot because of the sharp negative divergence from the normal zone, leading to the lowest levels possible. Ethereum Classic is trying its best to remain in the normal zone again.