Ethereum Classic price analysis: ETC/USD recovers from Monday losses after Callisto airdrop

The fork on Ethereum Classic network took place on Monday eve.
ETC/USD is climbing, but the upside is weak.

Tanya Abrosimova Independent Analyst

Ethereum Classic has partially recovered Monday losses caused by the news, that Bittrex, one of the most popular crypto exchanges, wouldn't support ETC/CLO airdrop.

“At this time, Bittrex is not supporting the Callisto [CLO] Airdrop to Ethereum Classic [ETC] holders. The CLO development team waited until today to contact us, and it is too late for them to complete our rigorous token review process before the snapshot on March 5, 2018” - the official statement goes.

The new Ethereum Classic based network was born on March 5, slightly behind schedule. According to the statement on the Callisto project Twitter account, the snapshot was taken of the block 5500000. Everyone account holding ETC at that moment would be granted a CLO.

The new coin is trading at YoBit exchange, which is currently down due to DDoS attacks.

Ethereum Classic technical picture

ETC/USD lost over 37% from the peak $44.00 reached on February 20. Currently, the coin is trading at 27.50, having recovered 3% since the start of the day. ETC/USD stays below 100-DMA, which darkens the near-term technical picture. The nearest support comes at $26.30 (Monday's low); the resistance is seen at $30.30 (the above-said 100-DMA).

ETC/USD, daily chart

Author

Tanya Abrosimova

Independent Analyst

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