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IOHK congratulates the commencement of the Ethereum Classic {ETC} hard fork; altcoin wavers

Ethereum Classic is ranked at #17 beneath Dash and Huobi Token on coinmarketcap. The trading volume recorded stands at $468.938 million, while the supply has 113,427,530 ETC coins in play for now. As of this instant, the total market cap of Ethereum Classic is $707.177 million. Currently, ETC is priced at $6.23 in the market after the asset declined at a rate of 1.04% in the course of the past 24-hours.

Data from the candlestick chart associated with the ETC/USD pair on tradingview points to bearish pressure driving the price down. The daily RSI has reached 40.20 after a steady drop which took place over a week. From the 10th of this month, the MACD line has begun its descent underneath the signal line.

Resistance may influence the rise of the altcoin at $7.301 and support can be found close to the $5.867 area. Although, the Awesome Oscillator peaks are still above the zero line [but the final 7 have been brown]. This indicates that bullish momentum may return by next week.

The fork was slated to ensue by today. This is a technological upgrade, and no new currency has been derived following the completion of the fork. Kraken stated that they are “closely monitoring” the entire procedure, and shall provide support for ETC Atlantis someday soon.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.