– Ethereum Classic is the best performing amongst the top 50 cryptocurrencies by market cap today.
– ETC has added 21% to its value in the last seven days and is outperforming the other major cryptocurrencies today.
– The technical indicators show that ETC is outperforming the broader crypto market.
Ethereum Classic (ETC) is the best performing cryptocurrency amongst the top 50 cryptocurrencies by market cap today. The native coin of the Ethereum Classic blockchain has gained more than 4% in the last 24 hours, and the price of ETC now stands at $18.73. This impressive performance has seen ETC gain 21% to its value in the last seven days.
The broader crypto market had a positive start to the week but is now retreating. The total crypto market cap stands at $817 billion, down by less than 1% in the last 24 hours. Bitcoin and Ether continue to maintain their prices above the $16,800 and $1,250 levels, respectively.
According to the crypto analytics platform Santiment, Ethereum Classic is enjoying a pretty nice rally of its own. Not only is volume high, but ETC is also being shorted big time by traders on exchanges. This news could be the major catalyst driving ETC higher.
When looking at the ETC/USD 4-hour chart, it is evident that Ethereum Classic has been performing well over the last few days. The technical indicators show that ETC is outperforming the broader crypto market and is making strides towards the $20 resistance level.
If ETC can break through this resistance level, it could open the door for further gains. Currently, Ethereum Classic is trading in a tight range, and it is hard to predict which way the coin will go next.
Overall, Ethereum Classic seems to be on an upward trajectory, and it will be interesting to see how the coin fares in the coming days and weeks. The coin has the potential to reach new heights if the current momentum continues.