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Benzinga
Benzinga
Business
Melanie Schaffer

Why Ethereum Classic Could Be Headed For A Massive Reversal And How To Play This Pattern

ETC

Ethereum Classic (CRYPTO: ETC) was trading flat on Wednesday in a second day of consolidation following an 8.2% plunge on Monday, which was partly caused by a bearish day in both the general markets and the cryptocurrency sector.

When Ethereum dropped on Monday, it tested support at the descending trendline of a falling channel pattern and wicked up from the area, further confirming that the pattern the crypto has been trading in since March 23 is still intact.

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