$ETC at $8.34—do you dare to buy the dip?

Developers are still working overtime on upgrades. Compute power has reached a historical high: within an hour it was pulled from 8.43 up to 8.61—then what? A single long bearish candle slammed it right back down to 8.34. A massive sell wall of 640,000 USDT pinned the bulls to the ground and ground them into the dirt. Is this old thing really time to be put to rest?
First, look at the surface: a spike and then a pullback—a deadly blow to sentiment.
In the past 24 hours, ETC’s price has fluctuated by 1.41%, which looks calm. But don’t let that number fool you—open the candlestick chart: within an hour it was crushed from 8.61 straight down to 8.34, a 3.48% drop, accompanied by a massive volume of 640,000 USDT. Someone is running for it—and it’s institutions.
First thing: compute power hits a historical high, and miners are betting real money.
ETC’s hashrate stays at 183-199 TH/s, setting a recent record. After Ethereum’s merge, ETC is the only “old-school tough guy” still holding the PoW line. Miners moved their hash power over—they did the math: electricity costs exchanged for ETC, and this trade isn’t a loss.
Second thing: upgrades are underway—fee burn and DAO governance are coming.
Spiral is live, and Olympia is on the way. Fee burning, DAO governance, treasury funding—these tech fanatics are still working their tails off building infrastructure because they’re convinced that—“Code is Law,” and mining is justice.
Third thing: 8.30 is the last line of defense—break it and it drops to 7.80.
This isn’t alarmist talk. The candlestick chart tells you that 8.30-8.00 is a dense cluster of recent lows. If it can’t hold, the next stop is directly toward 7.50. Out of the 12 technical indicators’ 12条MA, 11 are bearish. MACD is weak, RSI is neutral, and the overall rating—Strong Sell.
On one side: compute power hits new highs, upgrades roll out, and the halving is approaching (8-10 months).
On the other side: institutional sell pressure, a liquidity breakdown, and bearish sentiment across the entire technical picture.
The key level is 8.30—the final bottom line for bulls and bears.
If you’re a short-term trader: wait until ETC breaks above 9.0 on increased volume before entering. Target 9.5-10, with a stop-loss at 8.20. Don’t buy the dip at 8.34—there are still knives below.
If you’re a long-term player: accumulate in batches in the 8.0-8.3 range, keep position sizing at 10-15%, and set a unified stop-loss at 7.80. Before the halving, target 12-15—hold tight, don’t panic.
In this bull run, what can truly flip your situation around is never those “hot coins” everyone yells about to rush into. It’s instead this kind of old thing that everyone thinks should be put to rest, yet compute power and code are quietly getting the job done. #Gate广场四月发帖挑战 #加密市场回升 $ETC