Ethereum Classic blows up 20% on the day, Coinbase to support ETC trading in the coming months


  • “Binance will open trading for ETC/BNB and ETC/USDT trading pairs at 2018/06/12 2:30 AM (UTC),” Binance announced.
  • The price is currently trading a brief bullish flag pattern pending another upside breakout.

Ethereum Classic price is the shining star among the top 20 cryptocurrencies by market capitalization. The crypto is enjoying the support after Binance announced that it was adding more trading pair for the digital asset. The announcement reads, “Binance will open trading for ETC/BNB and ETC/USDT trading pairs at 2018/06/12 2:30 AM (UTC).”

Coincidentally, Coinbase the US-based cryptocurrency exchange announced support for Ethereum Classic in the coming months. The details of the listing were covered at length by one of FXStreet Editors, Tanya. However, a segment of the announcement said:

“We are pleased to announce our intention to add support for Ethereum Classic (ETC) to Coinbase in the coming months. We are announcing this both internally and to the public consistent with our process for adding new assets.”

Ethereum Classic went ballistic on both of the above announcement, but the support from Binance could have played a big role in the surge. Besides, it is good news that Coinbase is expanding its list of tradable assets, moreover, it is significant to the community that it is Ethereum Classic that lands the awaited support. When the listing comes and ETC is finally on Coinbase, there will be another blow up which could see Ethereum classic explore new higher levels.

In the meantime, Ethereum Classic is trading marginally above $15.5 after the bears sort equilibrium from the intraday highs of $16.60. ETC/USD succumbed to the bear pressure in the market in the previous weekend, sliding to $12.21. The crypto bounced using the support above and broke past the resistance at $15.00. The price is currently trading a brief bullish flag pattern pending another upside breakout in the near-term. The moving averages signal that the buyers are not done yet and still yearn for more upside movements. The RSI is ranging slightly below the 70 mark. On the other hand, a short-term support is formed at $15.5, but $15.00 will prevent further declines.

ETH/USD 1-hour chart

 



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