Ethereum Classic has gained 8% in 24 hours

Ethereum Classic has gained 8% in 24 hours

ETC is the best-performing coin out of top-20.
Ethereum Classic developers team gets ready for a major update.
Ethereum Classic is the best performing out of top-20 Cryptocurrencies. The ETC has gained nearly 8% in recent 24 hours to trade at $6.77. ETH/USD has recovered from the recent low of $5.70 reached on August 29; however, it is still 5% lower on a week-on-week basis.

Ethereum Classic has gained 8% in 24 hours

Currently, ETC takes the 16th place in the global cryptocurrency rating compiled by CoinMarketCap. Its market value is registered at $765 million.

On September 13, Ethereum Classic team will implement a major update on its mainnet. The development update known as Atlantis will improve stability and security features and add new functionality to meet the community needs.

Also, a big investors group North Block Capital recently joined ETC Labs Studio, which is considered as a positive development for the project as the companies will work on initiatives aimed at offering Ethereum Classic tokens to NBC partners and customers. 

The initial resistance level awaits us on approach to psychological $7.00. The upper line in the chart of 1-hour Bollinger Band and the recent high create a strong barrier for the bulls; however, once it is out of the way, the upside is likely to gain price traction with the next focus on $7,70 (the upper line of 1-day Bollinger Band) and $8.00.

Ethereum Classic ETC is one of the top 20 performing cryptocurrencies in the world with great future potential. With the price bears looming large over the cryptocurrency market, the price has been going through a lot of variations since July. Analysts feel the ETC will show a good recovery by the year-end.

Ethereum Classic Investors can hold on to their current investments as there is a lot of volatility in the cryptocurrency market. Short term traders can make gains if they time their investments wisely.

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