Understand the dynamics of Ethereum Classic Market (etc.)
The world of cryptocurrency has experienced a fair part of volatility and market fluctuations over the years. One of the many altcoins arises is a noteworthy player, Ethereum Classic (etc.), a blockchain-based platform that has recently paid considerable attention. In this article we are immersed in, etc. Market dynamics, exploring its unique features, current trends and what motivates its price movements.
What is Ethereum Classic?
Ethereum Classic is an open source blockchain network, decentralized and authorized designed by Vitalik Buerin, co-founder of Ethereum. However, unlike Ethhereum (ETH) MainNet, which was sent in 2016, a new Ethereum Classic (etc..
Market context
In March 2021, the price of the ETC began to increase after high -level blows and flights on the Ethereum MainNet network. This has led to the creation of a new token called Ethereum Classic (etc.), which is designed to sew from the original Ethereum blockchain to solve scalability and security problems.
market dynamics
A etc. Market dynamics can be condemned as a number of key factors:
- Hodl thinking : The cryptocurrency community showed a strong “mass” mentality where investors decide to keep their tokens, etc. Instead of selling them at the current low price in the hope that prices will increase.
- Network Effects : While more and more users and developers are joining Ethereum Classic Network, it becomes more attractive to new investors to get involved in the request, etc. and further increase their value.
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Villa Advantage : The fact is, etc. The original Ethereum blockchain fork means that it inherits some of the infrastructure and its existing functions, which offers an attractive opportunity for users who want to build over proven technology –
- Adoption by large -scale merchants : Many large -scale merchants have joined the community, etc. Recently, providing significant purchases on the market and increasing prices.
Price trends
A etc. Trends of price over time:
- March 2021: Surge -prices after Ethereum mainnet main hacks
- 2021 April-May: Stabilization of prices due to increased acceptance of investors
- 2021 June-September: A decrease in prices due to increased competition and higher trading volume
- October 2021: A continuation of growth motivated by the “Hodding” mentality and the effect of the network
Technical analysis
The technical analysis of the etc. can be divided into several key indicators:
* Relative Power Index (RSI)
: The ETC RSI is currently in excessive area, indicating that the potential bull competition is in progress.
* Bollinger Strips : The effect of ETC price is often characterized by the presence of bollinger bands, which indicate volatility and potential failures.
* Support and Resistance : The $ 1.20 grant level has been tested several times in recent months, while the $ 3.00 resistance level is harder to pierce.
Conclusion
In summary, Ethereum Classic (etc.) is a unique cryptocurrency whose strong market dynamics, which is motivated by investors, the effect of the network and acceptance by high -volume merchants. Although the price of ETC has experienced significant volatility in recent months, it remains an attractive opportunity for those who want to build over the original Ethereum blockchain.
No liability clause
This article should not be considered an investment advice. The cryptocurrency markets are very volatile and prices can fluctuate quickly. Before making investment decisions, it is essential to conduct profound research and a consultant consultation.