Price Analysis

Ethereum Classic (ETC) Price Analysis: Ethereum Classic will Walk With Stable Pace Before the Rally

Ethereum Classic (ETC) was a part of an integrated and large crypto coin. This was created after a significant hacking attack in 2016. Market leader Ethereum and Ethereum Classic both have a common token – Ether. There is a way through which values can be transferred between these two platforms. Ethereum Classic is a decentralized and open sources crypto platform. It is known for its smart contracts and decentralized Turing-complete virtual machine.

Current Statistics-

Ethereum classic

  • Ethereum Classic (ETC) is the 19th largest coin in the global crypto market.
  • The ROI (Return on Investment) stands at 672.46 %.
  • A total of 110,169,461 ETC coins are in current circulation
  • The market cap as on 03rd May 04:09 UTC is 640,076,425 USD.
  • The value of each coin stands at 5.81 USD and 0.00104281 BTC.
  • The 24 h volume stands at 455,071,148 USD at the same UTC.

Comparison-

Ethereum Classic started the year with a very humble value around 5 USD after the devastating crypto winter. It went through phases of price variations in the last four months.  However, the highest growth was achieved after 1st April boom. It gained almost 90% of its value in just 3 days.  Since that phase, the coin is experiencing price correction. The market cap on 3rd April was 635,928,538 USD. And the value of each coin was 5.81 USD and 0.00115376 BTC. The current market cap is 0.65 % more than the market cap of 3rd April, and the value of each coin has shown no change in its price.

The 1-day chart of Ethereum Classic has also gone through many variations. There are multiple ups and downs in the last 24 hours with a range between 5.76 USD to 5.84 USD.

Prediction-

Looking at the price trend, we predict the coin to be stable for some time. After this stable phase, the coin will move upwards with a resistance level at 6 USD and 6.5 USD. The current market cap is around 640 million USD, which can go beyond 645 million USD in the long term. Both the long term and medium-term outlook is bullish. By the end of 2019, we predict the value to touch 10 USD as there are many upcoming projects to be undertaken.

Conclusion-

We advise the investors to lock in buying positions now, as the value may not tilt downwards more. Keeping investments until 2020 will reward patient investors.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.
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