- ETC experience a strong growth despite sour news.
- The key resistance lies with $5.00.
Ethereum Classic (ETC) takes the 19th place in the global cryptocurrency rating compiled by CoinMarketCap. The coin has been growing strongly in recent hours and touched the intraday high at $4.72 before stabilizing ant $4.68 by the time of writing. ETC has gained nearly 5% on a day-on-day basis and became the best performing cryptocurrency out of top-20.
Notably, high-profile developer Anthony Lusardi has left ETC Cooperative team due to burnout and social media FUD.
The developer emphasised that he is still a big fan of ETC and ETC Cooperative team. His decision was based on personal motives.
Explaining his departure in a dedicated blog post, he wrote:
“So why leave? In short I simply cannot deal anymore. My role was highly visible and largely required me to respond and deal with a lot of social media. If something bad happened, people would spread FUD and I’d have to respond. If something good happened, same thing. It felt as if no news was the only good news I’d actually get.”
Lusardi also noted that he would still support ETC and work on some side projects for the coin he had not been able to take while working full time.
Looking technically, the initial support lies with $4.51-$4.52 (SMA100 and SMA50, 1-hour chart). Once this area is passed, ETC/USD may proceed towards $4.44 and $4.43 (SMA50 4-hour and SMA200, 1-hour respectively). On the upside, the key focus is on the intraday high ($4.72) followed by psychological $5.00.
ETC/USD, 1-hour