- Ethereum Classic has been moving in circles around $15.00
- ETC Lab attracts new projects by incubator program.
Ethereum ClassiÑ is changing hands at $12.20, the coin has recovered from Wednesday sell-off, but $15.80-$16.00 area is a hard nut to crack for the bulls. Ethereum ClassiÑ gained over 2% in recent 24 hours, mostly unchanged since the beginning of the day.
Ethereum Classic, currently the 16th largest coin, has the market value of $1.5B and average daily volume $213M. It is most actively traded at OKEx and Bitfinex.
ETC Lab announced an incubator program for ETC-based projects, which includes funding between $100,000 and $500,000 for initial research and development and an office space. The program is supposed to increase the popularity of the network.
Ethereum Classic technical picture
On the daily chart, ETHC/USD is capped by 50-DMA, currently at $15.79 resistance, followed by critical $16.00. This area proved to be too strong for the bulls and attracted new sellers. On the downside, a below $15.00 will darkens the technical picture and pave the way towards the next support at $14.00, followed by Sunday’s low at $13.15.
ETC/USD, daily chart
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