8.34 dollars $ETC , are you brave enough to buy below?

Developers are still working overtime on upgrades, computational power reaching record highs; in one hour it rises from 8.43 to 8.61—so what? A massive candlestick line immediately drops it back down to 8.34. Selling volume of 640,000 USDT presses bullish momentum into the ground and grinds against it. Does this old asset really need to be buried?
First, look at the surface: it rises high and then falls, killing hope.
In the last 24 hours, the ETC price has fluctuated 1.41%, looking calm. But don’t be fooled by this number—open the candlestick chart; within one hour it falls straight from 8.61 to 8.34, a 3.48% drop, accompanied by a large trading volume of 640,000 USDT. Someone is running away—and it’s institutions that are running away.
The first thing: computational power reaching a record high—miners are truly betting with real money.
ETC hashrate stays at 183-199 TH/s, marking a new record. After the Ethereum merge, ETC is the only one that still maintains PoW as the “old hard warrior.” Miners shift their computational power; they’re calculating—electricity costs traded for ETC. This transaction isn’t a loss.
The second thing: the upgrade is underway, fees are being burned, and DAO governance is coming.
The spiral has already been launched, and Olympia is also coming. Burn fees, DAO governance—these crazy technicians are still struggling to build infrastructure because they believe—“Code is Law”; mining is justice.
The third thing: 8.30 is the last line of defense; if it breaks, then it goes to 7.80.
This isn’t nonsense. The candlestick chart shows that 8.30-8.00 is a newly consolidated low zone. If it can’t be held, the next move goes straight to 7.50. The 12 MA indicators show 11 bearish; MACD is weak; RSI is neutral; overall assessment—Strong Sell.
On one side there is the new highest computational power, the upgrade is running, and the halving is approaching (Oktober-Desember).
On the other side there is pressure from institutions, liquidity collapsing, and all technicals pointing to selling.
Key position at 8.30—this is the last line of defense between bullish and bearish.
If you’re a short-term trader: wait for ETC’s large volume to break through 9.0 before entering. Target 9.5-10, stop loss 8.20. Don’t buy at 8.34—there’s still a knife underneath.
If you’re a long-term investor: buy gradually in the 8.0-8.3 range, control position size at 10-15%, and set a stop loss at 7.80. Before the halving, your target is 12-15—hold steady and don’t panic.
In this bull run, what can help you get your money back isn’t the coin everyone is shouting about, but this old asset that’s considered something that should be buried—yet their computational power and code are quietly still working. #Gate广场四月发帖挑战 $BTC