This article was first published on Huobi Group - Medium
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🔹What is Ethereum Classic ETC?
Ethereum Classic is a decentralized computing platform that executes smart contracts. Applications are run exactly as programmed without the possibility of censorship, downtime, or third-party interference.
Ethereum Classic is a distributed network consisting of a blockchain ledger, native cryptocurrency (ETC), and a robust ecosystem of on-chain applications and services. [Source https://ethereumclassic.org/]
📅 Upcoming Event:” Ethereum Classic is preparing for the Thanos hard-fork expected at block 11_700_000 or around November 28th, 2020.” from www.coinmarketcal.com.
📈Analysis
ETC’s brief accumulation below the November open exploded upward during the last several weeks before tapping resistance around the weekly level at $6.8793.
Aggressive bulls have found some support near $6.0439, although it remains to be seen whether this level will hold longer-term. The previous swing highs near $5.73 provide a safer entry. However, Sunday’s wick into this support may have been the last stop before challenging the next resistance.
A small gap between the daily candles near $5.2195 provides the safest entry for more cautious bulls. However, the price may not visit it for some time if the altcoin market’s euphoria continues.
Confirmed resistance near $6.90 provides a reasonable first target....
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