ETC Posts 1.49% Daily Gains – Breaking Above the 9 and 20 EMAs

• ETC is 3rd on CoinMarketCap’s trending list today.
• ETC is currently trading at $37.44 at the time of writing.
• Sellers have entered the market today and are attempting to push the price down.

Ethereum Classic (ETC) has made it to the 3rd position on CoinMarketCap’s trending list after a price increase of just under 2% over the last 24 hours.

According to data from the market tracking website, CoinmarketCap, ETC is currently trading at $37.44 after a 1.49% surge in price over the last 24 hours and after reaching a high of $39.68 over the same time period.

When looking at the longer time frames for ETC, we see that the crypto is up 1.96% over the last week, while it is still in the red by 8.52% over the last 30 days.

ETC is currently the 17th biggest crypto with a market cap of $5,124,483,117. This places ETH right behind Avalanche (AVAX) in the 16th position and in front of Wrapped Bitcoin (WBTC) in the 18th position. In addition to this, ETC’s 24-hour trading volume saw a more than 70% increase over the last day to now stand at $2,647,943,349.

The daily chart for ETC/USDT shows that the price of ETC is positioned above the 9 and 20 EMA lines. However, sell volume has recently entered the market, attempting to push the price down below the lines again.

It seems that the price of ETC may succumb to the pressure applied by ETC sellers as the RSI line sloped towards oversold territory. Nonetheless, should ETC’s price be able to maintain its level above the EMA lines, then the RSI slop will likely level off and ETC’s price will look to make a bullish move.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.