Ethereum Classic (ETC) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Wednesday, the crypto has lost 17.18% to $20.62.
Moderately Volatile
InvestorsObserver gives Ethereum Classic a moderate volatility rank of 38, placing it in the bottom 38% of cryptos on the market.
The Volatility Gauge analyzes this means that the rank represents its recent trends and isn’t overly influenced by a sudden spike – or two – in volatility.
ETC’s moderate volatility reading comes with a low reading on the Risk/Reward Gauge, meaning that the coin has moderate price swings and is well protected from price manipulation.
Ethereum Classic price is trading near resistance. With support around $16.99 and resistance at $21.72. This leaves Ethereum Classic with potential selling pressures ahead as it may be getting over extended.
What is a Coin?
A coin is a cryptocurrency that exists on its own blockchain. these are typically used for payments. Depending on the cryptocurrency, what those payments are used for may vary from general use in the Digital Money sub-class to more specific uses in some other sub-classes.
Stay In The Know
Subscribe to our daily morning update newsletter and never miss out on the need-to-know market news, movements, and more.
Thank you for signing up! You’re all set to receive the Morning Update newsletter
This news is republished from another source. You can check the original article here