March 28, 2023

Ethereum Classic (ETC) Continues to Struggle as Crypto Markets Remain Bearish

Ethereum Classic (ETC) has remained near a two-month low as the global crypto market cap continues to be bearish. On March 6, ETC/USD slipped to an intraday low of $19.26, which is close to Friday’s bottom at $18.89. This marks the fifth consecutive session that ETC has fallen, down by over 8% in that period.

The 14-day relative strength index (RSI) has collided with a floor at 36.00, which has caused prices to marginally increase from earlier lows. However, volatility in crypto markets remains high, and uncertainty continues to hover over markets.

Litecoin has also moved lower on Monday, adding to the overall bearish sentiment in the crypto market. At the time of writing, the global crypto market cap is down 0.55%.

Despite the current struggles, some analysts remain optimistic about the long-term potential of Ethereum Classic. The platform has a strong community and is known for its security and immutability. Additionally, the recent addition of ETC to the Coinbase platform has increased its visibility and could lead to increased adoption.

As the crypto market continues to be volatile, it remains to be seen how Ethereum Classic and other cryptocurrencies will perform in the coming weeks and months. However, many in the industry remain bullish on the long-term potential of blockchain technology and the role that cryptocurrencies will play in the future of finance.

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