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- ETC / USD moves in sync with the rest of the market.
- Augur's bet could kill the currency.
Users of the Augur platform can now bet on the delisting of Ethereum Classic from Coinbase. According to Emin Gün Sirer, a Cornell University professor, this bet could turn into an ETC killer.
"This is, in effect, an assassination market for ETC," he wrote in his Twitter account.
Most likely, these feelings are related to the 51% attack on the ETC network. Furthermore, it should be noted that ETCDEV, one of ETC's leading development teams, has abandoned the project due to lack of funding.
Meanwhile, ETC / USD is changing hands at $ 4.61, down nearly 9% from this Wednesday hour. The currency moves in sync with the broader market, while the sell-off is intensified by deteriorated technical factors. The price must recover $ 5.0 and $ 5.2 (confluence of SMA100 and SMA50, 4 hours) to mitigate the immediate downward pressure. Once this barrier is removed, ETC / USD could make the recent highs at $ 5.69 and $ 6.0.
On the flip side, a sustainable move below $ 4.5 will keep down forces and push the price towards $ 4.00 critics.
ETC / USD, 4-hour chart
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