Ethereum Classic (ETC) Will Continue To Outperform The Cryptocurrency Market 

Ever since Ethereum Classic (ETC) was listed on Coinbase, it has been outperforming the market. Unfortunately, the bearish pressure in the market is too strong to allow an upward move in the price of Ethereum Classic. From the weekly charts, the price of Ethereum Classic increased because of the news of Coinbase listing. However, the price was unable to hold the upward movement after the actual listing took place. This either means that the bearish pressure in the market has cost a loss of interest in cryptocurrencies or the whales in the market are manipulating the price of Ethereum Classic so as to buy as much as they can at a low prices.

Coinbase Cryptocurrency Exchange to get a Banking License

Ethereum Classic (ETC) And The Cryptocurrency Market

Bitcoin and Ethereum, the big two, are currently the only two cryptocurrencies that cannot be manipulated to a lower range. The only thing investors can do is boost the cryptocurrency by buying over the counter from interested sellers. This is because both coins have a high market capitalization. Ethereum Classic, on the other hand, has a market capitalization that’s just above a billion so there aren’t proper OTC markets allowing investors to manipulate the price in their favor in a bid to profit from the Coinbase listing.

Ethereum Classic (ETC) Price Today – ETC / USD

NamePrice
bitcoin
Bitcoin
$7,491.511.04%
ethereum-classic
Ethereum Classic
$3.881.98%

The good news is that this price manipulation will increase the price of Ethereum Classic in the coming weeks. The price is going to skyrocket before the end of 2018. From the HCCCO indicators, the green oscillator is moving fast above the red oscillator showing that an upward rise in price is unavoidable. Also, the Elliot Wave oscillator is rising above the charts and the bearish momentum that has been present since September 2017 is fading off gradually.

This is the best time to buy Ethereum Classic according to the long term price analysis by Fakhan on Cryptodaily. The price of Ethereum Classic (ETC) has reached the end of the long-term correction and its set to break out of the contracting triangle in the coming weeks. While buying now may be risky, it’s a risk that is worth taking and it’s a better idea than selling.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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