Ethereum Classic eyes descending triangle breakdown
|Having faced rejection at the 50-DMA hurdle on August 9, Ethereum Classic or ETC/USD now trades on the back foot around $13.86 levels.
The daily chart shows a bearish descending triangle breakdown, which is a continuation pattern, i.e. the confirmation of the breakdown would signal the sell-off from the high of $23.30 has resumed.
As per coinmarketcap.com, Ether Classic dropped 3% over the last 24 hours to trade around $13.95 levels.
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