Has Ethereum Classic ETC/USD lost its glamour?

• Ethereum Classic has fallen from the August high of $45 to $27

• The decline in speculations for the cryptocurrency after the Ethereum merge has forced a bear market

• ETC faces an additional 15% fall amid weak sentiment

Ethereum Classic ETC/USD faces a decline up to the next support at $23. Although the token seems to have found minor support at $27, momentum remains weak. The established support remains at $23, implying a further 15% decline. What happened? 

Ethereum Classic traded at a high of $45 in mid-August. The price preceded investors’ interest following the much-anticipated Ethereum move to the Proof-of-Stake system. Investors speculated that the move could attract miners to Ethereum Classic, whi