Ethereum Classic (ETC) may not be in the Top 10 cryptocurrencies.
Though, chances are good that could soon change, especially as it breaks out of consolidation.
After breaking above the 20-day and 50-day moving averages, ETC has its sights set on prior resistance at $19.14. If it can break through, we could see a test of $25.
On a five-year technical chart of ETC, MACD, relative strength (RSI) and Williams’ %R are just beginning to pivot higher from recent lows, too. Plus, trade volume jumped from $170 million to $270 million, sending the ETC market cap to $1.85 billion.
This is all thanks to Coinbase, which just announced it reached the final stage of testing.
“Our engineering team is beginning final testing of Ethereum Classic on Coinbase products. We expect final testing to be completed by Tuesday, August 7, at which point we expect to announce that we’re ready to accept inbound transfers of ETC,” tweeted the ETC team.
If this news-based momentum can continue, $20 to $25 could be a shoe-in.
Considering that a listing on Coinbase results in increased levels of adoption, it only makes sense that ETC will continue to move higher. ETC transactions have also hit multi-month highs, as investors’ interest in ETC grows.
However, there are no set dates for the official listing.
We are being told that information will be released in coming days regarding official dates, though. We anticipate higher highs for ETC as we approach official listing. Some analysts, including those at Crypto Daily believe ETC could reach $200 this year on this progress.
Ethereum Classic Seeing a Great Deal of Acceptance
ETC continues to see growing global interest.
The UAE Bitcoin and cryptocurrency exchange BitOasis said that ETC is available. Users across the UAE, Saudi Arabia, Kuwait, Bahrain, and Oman, can now buy, sell, and trade ETC with 0% transaction fees until August 31, notes Crypto Ninjas.
Even the Robinhood crypto app is now allowing investors to invest in ETC, commission free. You can also invest in Bitcoin (BTC), Ether (ETC), Bitcoin Cash (BCH), Litecoin (LTC), and Dogecoin (DOGE).
Again, ETC may not be in the Top 10 just yet, but that’s likely to change shortly.
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