- Ethereum Classic team announced the date of the major update.
- ETC/USD is range-bound within the short-term bullish bias.
The developers of the Ethereum Classic project revealed a roadmap for the hard fork known as Agharta. This major update is focused on compatibility with Ethereum's blockchain.
"The Agharta upgrade will be inclusive of the ETH Constantinople features making Ethereum Classic fully compatible with Ethereum," the team wrote on Twitter.
The fork will go through several stages. The first stage will be initiated on November 13 with the launch of a test net Morden. The mainnet fork is scheduled on January 15, 2019; however, thee developers emphasized that the dates we're preliminary and subject to change.
"Ethereum Classic and Ethereum are evolving from the same ancestry, and further technical compatibility will provide a stronger bridge to collaborate on shared infrastructure as well as maintain our unique differences. The recent Atlantis hard-fork was to increase ETH Compatability and Agharta will be the second half of that goal," the team wrote in a blog post
ETC/USD, now the 22nd largest digital asset with the current market value of $556 million, is changing hands at $4.83, down 1% on a day-to-day basis. The coin has been range-bound after an unsucceceful attempt to break above $5.00 handle, This barrier is strengthened with SMA50 (Simple Moving Average) and the upper line of the Bollinger Band on a daily timeframe. On thee downside, the support is created by $4.6 (the middle line of the daily Bollinger Band_ followed by October 26 low at $4.48 and the lower line of the daily Bollinger Band at $4.20.
ETC/USD, daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.