ETC's low-risk shorting opportunity could be the best way forward for investors

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Bearish market structure on higher timeframes ETC trades near the Fibonacci golden pocket as well Ethereum Classic ETC saw a lackluster performance in the markets on 15 October.

Timeline of Ethereum-classic

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice Moving averages depicted a strong selling edge as the price action approached a support region. Ethereum Classic's funding rates showed slight improvement but were yet to turn positive.

Ethereum Classic (CRYPTO: ETC) is trading flat to $23.19 going into the close of U.S. market trading Thursday, recovering sharply after selling off some 9.88% to $20.90 intraday. Cryptocurrencies at large are volatile Thursday after September CPI data showed worse-than-expected inflation.

Ethereum classic remained close to a three-month low in today's session, as the token continued to extend recent declines. The token is now trading almost 15% lower in the last seven days. Near protocol was also lower, with it also falling to its lowest point since July.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Ethereum Classic has already seen rejection at the $29 mark $27.3 also flipped to resistance, a retest could offer traders an opportunity Ethereum Classic [ETC] has been in a downtrend since early September.

Ethereum Classic's (ETC) Twitter account with over 670,000 followers was repurposed into a new account for rival proof-of-work network Ergo (ERG) on October 6. The post Ethereum Classic's Twitter account repurposed for Ergo appeared first on CryptoSlate.

Crypto miners who initially flocked graphics processing unit (GPU)-compatible proof-of-work tokens after Ethereum (ETH) Merge are fleeing those networks after the value of their tokens fell, according to available data. The post Miners flee PoW tokens as token prices tank, GPU value flounders appeared first on CryptoSlate.

The day of The Merge, Ethereum Classic's hashrate soared to new highs tapping 306 terahash per second (TH/s) ten days ago on September 15. Since then, however, Ethereum Classic's computational power has dropped 46.16% lower from the high to today's 164.75 TH/s. Furthermore, ethereum classic's market valuation has dropped by two positions and lost 26.

Ravencoin (RVN) and Ethereum Classic (ETC) were operated as a safe haven for miners seeking shelter from “The Merge” fallout. The event that completed Ethereum's transition to Proof-of-Stake (PoS), “The Merge” locked out miners from the ecosystem.

While the Ethereum network is cherishing its successful merge where the network completed its transition from proof-of-work (PoW) to proof-of-stake (PoS), the Ethereum Classic (ETC) is facing pressure. Amidst the ongoing bearish pull, the Ethereum Classic price might be pulled down even further.

Ravencoin (RVN) and Ethereum Classic (ETC) lead the market with gains, making them among the top gainers on Wednesday's session. Ravencoin (RVN) jumped 20%, while Ethereum Classic (ETC) made a 5% advance at the same time Bitcoin (BTC) nursed a 3% loss. Anticipation for The Merge is turning out positive for both RVN and ETC.