Ethereum Classic (ETC) is experiencing a slight bump as the company turns the wheels on their first cohort of blockchain startups. ETC narrowed down 11 startups from a group of 140. Between December 21 and 22, the market slightly retraced below the Bollinger Middle Band, and it got a push after a while to trend along the Bollinger Upper Band to test $5.50 mark on December 24.
— Ethereum Classic (@eth_classic) December 24, 2018
Earlier on today, the crypto experienced a sudden drop briefly below $4 market point, but it has been visibly reversed to seemingly favor upward movements.
ETC is up near 10% at the time of writing. This move will expand the network and produce a lot of new Dapp ideas.
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ETC labs are planning to grow their network by rendering some new startups building. This will help ETC to enhance their blockchain network through the newly selected teams which will have admittance to the shared office space, developer support, and funding. This will improve ETC network and with different ideas gathering together will take the Ethereum Classic to a whole new level. The project is based on aiming to make direct investments and by linking the startups to a network of supporters, investors, and collaborators.
The $5 price level now appears to a determinant value point that needs to be breached northwards to re-affirm bull’s return into this crypto-mark. Rejection at the said point could give in to bear having the market driving force advantage once again.