Ethereum Classic price analysis: ETC/USD crashes to $20.00, Poloniex outage exacerbate the pressure
|- Ethereum Classic join the ranks of crypto market losers with 9% decline.
- Poloniex angers users with extended maintenance and withdrawal delays.
Ethereum Classic is another big loser as the coin is down nearly 9% on the day. ETC/USD broke below 200-DMA, which triggered more losses and pushed it towards the critical support $20.00. The coin reached the intraday low at $20.01 but managed to recover towards $20.50 since that time. ETC/USD needs to get back above $22.40, that's where hourly 50-SMA and 200-DMA come together. This will to improve the short-term picture, but in the longer run, the resistance runs at 50% Fibonacci retracement level $24.00.
Poloniex, one of the largest cryptocurrencies exchanges, announced the scheduled wallet maintenance 19 hours ago and it is still offline.
"We’ll be doing scheduled wallet maintenance today at ~12:30pm EST. During this time deposits and withdrawals may be impacted for some currencies but should be running again shortly after that!" - a statement on official Twitter account says.
Users complain about withdraw delays and pending tickets without replies. The news about another exchange outage added pressure on the nervous cryptocurrency markets.
ETC/USD, the hourly chart
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