- Ethereum Classic is one of the underperformers in the crypto market today trading 5.70% lower.
- There is a support level coming up on the daily chart that could break if the bears stay in charge.
Ethereum Classis is on the verge of breaking the base formation to the downside. 4.400 has been a major level on the daily chart for the past few weeks.
Since June ETC/USD has lost over 50% since June and it seems the pain might not be over just yet.
The main low on the Coinbase exchange is 3.210 and we are not quite that low but if this level breaks we are on the way.
There is another support level between the two at 3.630. It may not be as strong but it could provide some relief.
The relative strength index (RSI) indicator is showing signs on a momentum slowdown but if the higher low breaks it would be another bearish signal.
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