Ethereum Classic (ETC) Marks Tremendous Fall and Touches $4.9

Ethereum Classic is back to the level from where it started yesterday, i.e., $4.9. There is no sign of improvement in the coin. The intraday traders are expected to close the day with a loss.

Yesterday, ETC coin was seen touching a high at $5.09 and later dropping to the lowest at $4.95. Well, the coin has already breached yesterday’s low.

Ethereum Classic Price Prediction:

Yesterday, Ethereum Classic started the day at $4.94. The price immediately fell to $4.91 by 0.55%. Further, the coin escalated to $5.02 by 2.16%. The ETC coin couldn’t hold itself at the level and started falling. The price recovered in the later hours and went up to $5.10 by 2.19%.

The price slipped to $4.9 by 2.18%. The closing hours brought some recovery and closed at $5.06 by 1.29%. The intraday movement in Ethereum Classic price brought a 2.34% escalation. Today, ETC coin is registering fall from the opening hours. The price moved from $5.06 to $4.91 by 2.91% drop.

ETC Price Chart
ETC Chart by TradingView

Ethereum Classic is currently under heavy market pressure. The currency has breached the immediate support at $4.97 and sliding towards the next support level at $4.89. There is a strong possibility that ETC might violate the major support level at $4.83.

Ethereum Classic is usually suggested for long-term investment. The short-term period doesn’t go well with the coin. According to our Ethereum Classic forecast, the currency might continue to trade with the current price trend. And hence, keeping in mind the current scenario, we would suggest the traders stay put and wait for the market to attain stability.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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