Price Analysis

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. However, keeping in mind the current scenario, we would suggest the traders stay put and wait for the market to attain stability.

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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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