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Ethereum Classic: Is it time to negate yet another bearish setup on the chart
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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice
Although Ethereum Classic has maintained a positive ROI of 6% in October so far, a host of altcoins have managed to outperform the world’s 29th largest cryptocurrency. On the chart, ETC’s price action has been largely due to a double top and a series of flash crashes in September.
Despite a slight recovery during the first week of October, an impeding descending triangle tainted ETC’s near-term outlook. At the time of writing, the crypto was traded at $52.4, down by 0.9% over the last 24 hours.
Source: ETC/USD, TradingView
Steady lows around $51.4 combined with lower highs over the past week, indicating a
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