Ethereum Classic (ETC) Rises 5.85%, Outperforms the Crypto Market Wednesday

Wednesday, August 10, 2022 01:13 PM | InvestorsObserver Analysts

Ethereum Classic (ETC) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Wednesday, the crypto has gained 5.85% to $38.63.

InvestorsObserver is giving Ethereum Classic a 48 Volatility Rank. Find out what this means to you and get the rest of the rankings on Ethereum Classic!

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Moderately Volatile

InvestorsObserver gives Ethereum Classic a moderate volatility rank of 48, placing it in the bottom 48% of cryptos on the market.

The Volatility Gauge takes into account this means that the rank represents its recent trends and isn't overly influenced by a sudden spike - or two - in volatility. ETC's moderate volatility reading comes with a low reading on the Risk/Reward Gauge, meaning that the coin has moderate price swings and is well protected from price manipulation.

Ethereum Classic price is trading above resistance. With support set at $35.44 and resistance at $37.86. This leaves Ethereum Classic out of range and potentially in a volatile position if the rally burns out.

What is a Coin?

A coin is a cryptocurrency that exists on its own blockchain. these are typically used for payments. Depending on the cryptocurrency, what those payments are used for may vary from general use in the Digital Money sub-class to more specific uses in some other sub-classes.