Augur users Bet on Ethereum Classic (ETC) delisting from Coinbase

ETC/USD moves down in sync with the rest of the market.
Augur bet may kill the coin.

Tanya Abrosimova Independent Analyst

Users of Augur platform now can bet on Ethereum Classic delisting from Coinbase. According to Emin Gün Sirer, professor of Cornell University, this bet might turn into ETC killer.

"This is, in effect, an assassination market for ETC," he wrote in his Twitter account.

Most likely, these sentiments are related to attack 51% on ETC network. Also, it should be noted that ETCDEV, a leading ETC dev team left the project due to lack of financing.

Meanwhile, ETC/USD is changing hands at $4.61, down nearly 9% since this time on Wednesday. The coin is moving in sync with the broader market, while the sell-off is intensified by deteriorated technical factors. The price needs to regain $5.0 and $5.2 (confluence of SMA100 and SMA50, 4-hour) to mitigate the immediate downside pressure. Once this barrier out of the way, ETC/USD may proceed to the recent highs at $5.69 and to $6.0.

On the downside, a sustainable move under $4.5 handle will unleash bearish forces and push the price towards a critical $4.00.

ETC/USD, 4-hour chart

Author

Tanya Abrosimova

Independent Analyst

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