RATE Group | Ethereum Classic jumps to $13.00 only to drop below $12.00
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Ethereum Classic jumps to $13.00 only to drop below $12.00

13 Feb Ethereum Classic jumps to $13.00 only to drop below $12.00

Posted at 14:20h in Ethereum News by

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  • Ethereum Classic (ETC) has been extremely volatile during early Asian hours due to technical factors.
  • A sustainable move above $12.00 is needed to improve the picture.

Ethereum Classic (ETC) has been wild on Thursday. The coin jumped from $12.00 to $13.00 in a matter of minutes and crashed below  $12.00. At the time of writing, ETC/USD is changing hands at $11.90. The coin has erased the largest part of the earlier gains.

Ethereum Classic now takes 15th place in the global cryptocurrency rating with the current market capitalization of $1.46 billion. About 47% of all ETC addresses are in the money now, while the 30-day volatility is close to 150%.

ETC/USD: Technical picture looks bearish

The nature of the recent spike remains unknown, though, despite the retreat, the coin is still moving within a long-term bullish trend. The local support created by psychological $12.00, has been taken out, which increased the selling pressure and pushed the price towards…

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