• Ethereum Classic rose 18% this week

• The hash rate of the Internet has increased

• Ethereum Classic still suffers from the pressure of empty orders of $19

The Ethereum Classic (ETC/USD) has been attracting much attention in the past two days. Although it fell 1% on Friday, it still rose 18% recently. Most of the profits will be made on January 4, 2023. This rise has promoted cryptocurrency to break through the downtrend line, which is the key to resist ETC for some time. But how long can ETC's profitability last?

Ethereum Classic promises successTransfer to equity certificateAgreement Ethereum Classic itself is a kind of work unit certification agreement. Therefore, the change of the Ether coin (also known as the combination) is expected to lead PoW mining to the Ethereum classics. Although the price was initially raised, ETC became desperate with the weakening of speculation.

The latest ETC profit rekindled the hope of the future of Ethereum's classic mining theme activity. Although the hash rate will decline significantly in December 2022, it will gradually increase in the new year. According to CoinWarz data information, the hash rate increased from 97.5975 TH/s on December 27 to 111.7497 TH/s on December 30. This may represent an increase in mining activities and ETC trading, which will drive up prices after the Spring Festival. However, under the current total demand, customers may still need to be cautious.

Although breaking through, ETC still suffers from bullish working pressure

ETC/USD data chart (by main view of purchase and sale)

The technical market prospect shows that ETC has a strong momentum. MACD index value is trying to break through the neutral zone. However, after ETC achieved the frictional resistance of $19, the empty order is trying to force adjustment.

What should ETC do?

Although breaking through the downward trend line, ETC is still facing adjustment. The price is still higher than before.

Breaking through the friction resistance of $19 is to consider the certification required for further rise. Investors should onlyShop ETCIt may return to above $19 with a certain upward trend. At the current price, ETC may still face a sharp drop to the lowest price of $14.

Where to buy ETC

Binance

Binance is one of the world's largest cryptocurrency trading centers. It is more suitable for more experienced investors, and provides many cryptocurrencies, more than 600. Binance is also famous for its low transaction fees and various trading options from which users can profit, such as:; Equivalence trading, margin trading and spot market.

Then use Binance to purchase ETC

Binance.US Enterprise

Binance.US provides reliable access to the world's hottest cryptocurrency services, with the lowest charging standard in the industry.

Then use Binance.US to purchase ETC