Ethereum Classic(ETC) Price Breaking Through Crucial Levels, May Surge by More than 25% Soon

Ethereum Classic price is constantly flashing buy signals despite the recent drop and hence a significant buying pressure raised the price upwards. Interestingly, while a pullback was presumed, the price seems to be poised to slice the bearish set-up.

Timeline of Ethereum-classic

Bitfly, the firm behind Ethereum's most significant mining pool Ethermine has revealed in a recent blog post that it will be ceasing all Ethereum Proof-of-Work (PoW) mining operations following The Merge. Additionally, it will not create a dedicated mining pool for any Ethereum PoW fork.

A Twitter poll by node operator @cryptovium revealed that most Ethereum miners intend to mine Ergo after the Merge. The post Most PoW miners intend to mine Ergo, not Ravencoin or Ethereum Classic post-Merge appeared first on CryptoSlate.

Ethereum Classic (ETC) is arguably one of the tokens that have benefitted the most in the recent rally. Given its close proximity to Ethereum, the bullish sentiment drummed off by the “Merge” had triggered a significant rally in the price of the digital asset.

Ethereum Classic (ETC/USD) is essentially an open-source, decentralized, and blockchain-based distributed cryptocurrency and network that has support for smart contract functionality. Ethereum Classic was formed in 2016 as a result of the Ethereum community's disagreement regarding a change with the developers surrounding its immutability, where the entire network was affected.

Ethereum Classic saw more than a 100% increase in total value locked (TVL) due to the pouring of more liquidity into the project in anticipation of the Ethereum Merge. The post Ethereum Classic (ETC) Total Value Locked Doubles Ahead of Ethereum (ETH) Merge appeared first on BeInCrypto.

In just over a month's time, The Merge is likely to be implemented on the Ethereum blockchain and the network's proof-of-work (PoW) miners will be forced to mine another coin. So far, it seems ethereum miners are sticking with the PoW Ethereum chain until the very end as profits have increased.

Lido, Ethereum Classic and Optimism rally after an announcement about the Ethereum merge that is set to happen on September 15. The news of the Ethereum merger sparked a surge in a number of alternative cryptocurrencies, including Lido Dao, Optimism, and Ethereum Classic.

Ethereum's third tesnet has launched successfully, instilling the faith among users, traders, investors and analysts that the September merger will proceed smoothly. This upcoming merger will see miners moving towards Ethereum Classic (ETC) which has raised the ETC demand.

Ethereum Classic (CRYPTO: ETC) was trading flat on Friday after a bullish day during Thursday's 24-hour trading session caused the crypto to soar up 8.32%. The crypto has settled into two visible patterns on the daily chart, with the short-term pattern being an inside bar formation and a cup-and-handle possibly forming as the longer-term pattern.

Ethereum classic was trading close to its highest point since April, as the token rose by nearly 10% on Friday. Despite crypto markets being mostly in the red in today's session, a handful of tokens managed to climb higher.