2021-08-12 06:48:00

Is Now The Time To Buy Into Ethereum Classic (ETC)?

Ethereum Classic (CRYPTO: ETC) shot up over 10% late night Wednesday.

What’s Moving? The cryptocurrency was trading 26.6% higher over a seven-day-trailing period. On a 24-hour basis, ETC was up 10.25% at $64.74.

Since the year began, ETC, which emerged with a new brand identity while retaining the original blockchain in a split with Ethereum (CRYPTO: ETH) in 2016, has shot up 1,031.29%.

In contrast, ETH has gained 341.58% in the same time period. ETH traded 2.86% higher at $3,225.81 over 24 hours.

See Also: Ethereum Vs Ethereum Classic

Why Is It Moving? ETC is moving alongside the wider cryptocurrency market whose market cap rose 3.72% to $1.94 trillion at press time.

ETC is moving towards the $80 resistance level in a cup-shaped pattern, wrote Benzinga’s Tyler Bundy Wednesday.

Ethereum has been on the upswing ever since the cryptocurrency underwent the London hard fork this month.

In the recent past, there have been instances when ETC has moved due to it being a “cheaper” Ethereum play.

See Also: Bitcoin, Ethereum, Dogecoin Shrug Off Inflation Numbers, Infrastructure Bill; XRP Surges 16%

Photo by ETC on Flickr

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights
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