Ethereum Classic Suffers From Relationship To Bitcoin, General Markets

Translate This Page

Ethereum Classic Suffers From Relationship To Bitcoin, General Markets — But All Hope Isn't Lost

Posted by Melanie Schaffer on Tuesday, September 21, 2021 Under: Technical Analysis

© Provided by BenzingaEthereum Classic (CRYPTO: ETC) plummeted down almost 10% on Monday following Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), which were trading down over 7% and 8%, respectively.

The crypto markets have also begun to trade in correlation with the overall markets this year due to Bitcoin and a number of altcoins being adopted by companies such as Square Inc (NYSE: SQ) and PayPal Holdings Inc (NASDAQ: PYPL).

Video: Bitcoin, Ether Alternatives Lead the Charge in Crypto Markets (QuickTake)

Bitcoin, Ether Alternatives Lead the Charge in Crypto Markets

The Ethereum Classic Chart: Ethereum Classic fell through a key level at the $50 mark which has both price history and psychological support. The dip down to $47.22 was bought, however, and Ethereum Classic bounced back north to regain support of the 200-day simple moving average.

The long lower wick demonstrates bulls bought the dip but the above-average volume on the decline shows there are more sellers than buyers.

By mid-afternoon on Monday Ethereum Classic had a trading volume of over 317,000 compared to the 10-day average of 216,950. Volume is a momentum indicator and bullish traders prefer to see lower prices on lower-than-average volume.

Ethereum Classic’s relative strength index (RSI) has reached 34%, which brought the crypto down toward overbought territory. When a stock or crypto’s RSI drops near or below 30% it is a buy signal for technical traders. The last time Ethereum Classic’s RSI dropped to 34% was on July 2, then its price shot up over 100% in the month that followed.

Ethereum Classic is trading below the eight-day and 21-day exponential moving averages (EMAs) with the eight-day EMA trending below the 21-day, both of which are bearish indicators. Bulls will want to see the crypto close the day above the 200-day SMA for confidence a bearish sentiment change isn’t in the cards.

Bulls will also want to see consolidation and then for big bullish volume to come in and drive Ethereum Classic back up above the $50.93 level. If the crypto can regain the level as support it could head back up toward $55. Bears want to see sustained big bearish volume drop the crypto down below the 200-day SMA and for momentum to push Ethereum Classic down toward a descending trendline which has in play since June 1. If the crypto doesn’t respond bullishly to the trendline it could fall back toward the $40 level. chart, histogram: etc_sept._20.png

etc_sept._20.png

In : Technical Analysis

Next post: Cryptocurrency...

Previous post: Bitcoin falls to...

Tags: ethereum classic suffers from relationship to bitcoin general markets — but all hope isn't lost

« Back to posts

Subscribe to this blog

THE WEEKEND SHOP

Rolex Date

15203
36MM Steel & 18k Gold, Oyster Band
Black Index Dial, Smooth Bezel (1998)
$5,795

⭕

Ladies Rolex Datejust 69178 Champagne
Rolex Datejust
69178
26MM 18k Yellow Gold, Fluted Bezel
President Band, Champagne Dial (1986)
$8,495

⭕

Submariner Rolex 16610
Rolex Submariner
16610
40MM Stainless Steel, Oyster Band
Black Superluminova Dial (1995)
$9,595

Buy Get Quote Sell

Blog Archive

CHOOSE YOUR FLAVOR🍷

#TRAFFiC 5-9PM WEEKDAYS ON HOT 103.1 FM HOUSTON #WeOnSpiN

HOT 103.1 FM HOUSTON

View in browser | Log on

Boost your earning power with a high-yield savings and bank certificate of deposit (CD) account.

BANKING

You’re already building your portfolio with E*TRADE from Morgan Stanley. Now, unlock more of your financial potential and open a high-yield bank account from Morgan Stanley Private Bank, Member FDIC, on etrade.com.

Bank smarter with some of today’s best rates

Plus, even more reasons to bank with us

Award-winning banking*
Our accolades speak for themselves

Easy money management
With E*TRADE from Morgan Stanley’s best-in-class digital experience⁶

FDIC
protected
Up to applicable limits. Certain conditions must be satisfied.⁷

Get started

Learn how to manage cash strategically

Not sure which account is right for you? Learn how to use cash as an asset class to balance your short-tern needs with your long-term goals. Read article

Privacy Pledge | Security Center | FAQs

*February 3, 2025. Buy Side from Wall Street Journal. Reprinted with permission by Dow Jones & Company, Inc.

1. As of 2/21/2025, the Annual Percentage Yield (APY) of the Premium Savings Account offered by Morgan Stanley Private Bank, National Association is 4.00%. Your interest rate and APY may change at any time and fees may reduce earnings. Please visit etrade.com/ratesheet for information regarding this account's current interest rate and corresponding APY.

2. Based on comparison to the National Deposits Savings Average Annual Percentage Yield (APY) as published on the FDIC Weekly National Rates and Rate Caps Weekly Update, as of January 21, 2025.

3. Certificate of Deposit (CD) interest rates are fixed from the start of the term until their maturity date.

CD offerings can change on a daily basis. The interest rate on the Settlement Date can be higher or lower than the interest rate that was available at the time of account opening. If your Settlement Date is within 10 calendar days of the account opening, the applied interest rate will be the highest of the prevailing interest rate on the date of account opening or the date of Settlement. Maturity is determined based on the Settlement Date and the term selected. The APY is based on no withdrawal of credited interest and no redemption prior to the stated maturity date. A withdrawal will reduce earnings. See the CD Rate Table page at etrade.com for information on term lengths, current interest rates and corresponding APYs.

Interest is compounded daily. Interest will compound from the Settlement Date until the last full day before the date of withdrawal using the daily balance method. Accrued interest posts to your account on a quarterly basis, unless you select at account opening to receive interest via check.

4. As of 2/21/2025, the Annual Percentage Yield (APY) of the Certificates of Deposit is up to 4.25%. Your interest rate and APY may change at any time until funding is settled, and penalties may reduce earnings. The APY is based on no withdrawal of credited interest and no redemption prior to the stated maturity date. Please visit etrade.com/ratesheet for information regarding the current interest rate, corresponding APY, and account terms.

5. Bank CD accounts must be opened and funded to lock in a fixed rate.

6. For the StockBrokers.com 2024 Annual Awards, all 17 U.S. equity brokers reviewed were assessed on over 200 different variables across eight areas: Commissions & Fees, Investment Options, Platforms & Tools, Research, Mobile Trading, Education, Ease of Use, and Overall. E*TRADE from Morgan Stanley was awarded the #1 Investor App, and #1 Web Trading Platform. In addition, E*TRADE received fifteen Best in Class distinctions: Overall Rating, Commissions & Fees, Research, Platforms & Tools, Investment Options, Mobile Trading Apps, Education, Bank Brokerage, Beginners, Futures Trading, IRA Accounts, Options Trading, Penny Stock Trading, High net Worth Investors, and Ease of Use. E*TRADE's star ratings for all category rankings out of 5: Overall (5.0 stars), Customer Service (4.0 stars), Commissions & Fees (4.5 stars), Research (5.0 stars), Platforms & Tools (4.5 stars), Mobile Trading Apps (5.0 stars), Investment Options (4.5 stars), Education (5.0 stars), Ease of Use (5.0 stars), Customer Service (4.0). Read the 2024 Online Broker Review.

7. The Premium Savings Account gives Morgan Stanley Private Bank, National Association, Member FDIC the ability to send any amount held on deposit in your Premium Savings Account to other depository accounts at Federal Deposit Insurance Corporation (“FDIC”) member banks with the purpose of affording you additional FDIC insurance coverage. The Program is designed to offer up to $500,000 in FDIC coverage to individual accounts (up to $1 million for joint accounts). Certain conditions must be met. Learn more.

Deposits held in Certificate of Deposit accounts are FDIC insured up to $250,000. Learn more.

No minimum initial deposit is required to open a Premium Savings Account and Certificate of Deposit Account. However, account must be funded within 30 days to remain open.

This is a promotional email from Morgan Stanley Private Bank, National Association. Click here to unsubscribe.

Morgan Stanley Private Bank, P.O. Box 484, Jersey City, NJ 07303-0484

Please see our Privacy Pledge for details about how Morgan Stanley handles personal information.

Banking products and services are provided by Morgan Stanley Private Bank, National Association, Member FDIC.

© 2025 E*TRADE from Morgan Stanley. All rights reserved. E*TRADE Copyright Policy

https://join.robinhood.com/samv55

Invest, spend, and earn 2.05% APY*–all through your brokerage account.

Our goal at Robinhood is to democratize finance. This means delivering products that help you do more with your money and improve your life. Today, we're excited to introduce Cash Management, a new feature to give you more flexibility with your brokerage account.

JOIN THE WAITLIST

Flexible Spending
Use your Robinhood debit card anywhere Mastercard® is accepted around the world.

Earn 2.05% APY
Your uninvested cash is moved to banks in our program that pay you 2.05% APY*. Like all variable rates, this could go up or down over time.

FDIC Insurance
Your cash in the program banks is eligible for up to $1.25 million of FDIC insurance, or up to $250,000 per bank, subject to FDIC rules.

75,000+ ATMs
Don't pay fees at any of the 75,000+ ATMs in our network.

JOIN THE WAITLIST

For the next two weeks, you can earn increasing levels of Stock-Back™ rewards when you shift your everyday spending to your Stash debit card.*

Every qualifying swipe over $5 gets you closer to leveling up your Stock-Back rewards. Levels start tomorrow and reset to zero on Monday, November 18.

Follow @BMGGLOBALMOTION

#FINANCIAL_LITERACY

107.9FM NYJ/LA