Ethereum Classic price analysis: Fireworks on the day; surge propelled by Listing on Coinbase Consumer
|- Ethereum Classic price steps above the resistance at $14.00 following listing on Coinbase Consumer.
- “We’re thrilled to offer ETC to all of our customers and will continue working to add more assets to Coinbase,” Coinbase said in a Tweet.
Ethereum Classic has had a rollercoaster ride in the last couple of weeks. Coinbase announced the listing of ETH on Coinbase Pro and Coinbase Prime. Ethereum Classic hit the headlines due to the coveted listing one of the world’s largest cryptocurrency exchanges. The exchange did not, however, list the asset on all its trading platforms at a go. ETH has been trading on Coinbase Pro and Coinbase Prime for over a week now but the listing on Coinbase consumer was only confirmed today.
“Starting at 5pm PT tomorrow, Coinbase Consumer customers will be able to buy, sell, store and use Ethereum Classic (ETC) on http://Coinbase.com and through the mobile app,” Coinbase wrote on Twitter.
Coinbase confirmed today that:
“ETC will be available to customers in every country where Coinbase Consumer is available. We’re thrilled to offer ETC to all of our customers and will continue working to add more assets to Coinbase.”
Ethereum Classic price analysis
Ethereum Classic like other tokens in the market has been battling for a breather after the overarching declines in the month of August. ETC/USD recently formed a support at $14.00 but this support was broken during the fresh declines on Monday this week. The price formed a low at $10.50 before bouncing back past the short-term resistance at $11.00.
Another pullback broke out and Ethereum exchanged hands above $12.00 and $12.50. The listing on Coinbase consumer increased the traders’ positive sentiments on ETH, which led to another spike in two bullish successive engulfing candles. ETH/USD retraced above the broken support at $14.00 and formed a high at $14.23.
At the time of press, ETC has corrected lower below $14.00 and trading at $13.92. The chart is sending positive signals but the short-term support at $13.50 is positioned to hold in the short-term if the trend reverses. Ethereum Classic buyers must find a support above $14.00 and aim at pushing the price above the resistance at 16.00.
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