Ethereum Classic (ETC) Price Analysis: How Trustworthy Will This Volatile Crypto Market Be To Fulfil The Short And Long Term Goals Of ETC?

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ETC is the upgraded form of ETH. It is a smarter blockchain, a network and a cryptocurrency that is aimed to take digital assets at a further level. Besides enabling people to send values to each other, it also provides a platform for complex contracts that get operated autonomously and cannot be censored or modified.

Current status of ETC

  • Current trading value: 5.32 USD
  • Current market cap: 585,305,873 USD
  • Circulating supply: 109,999,755 ETC
  • Market rank: 18

Price analysis of ETC

ETC

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  • The above chart displays that currently, ETC is trading at 5.40 USD or 0.00104203 BTC (UTC time 06:18). Its current market cap is worth of 593,630,870 USD with a 24h volume of 399,388,611 USD.
  • The chart also makes it evident that towards the end of March 2019, ETC had a trading point of 4.80 USD.
  • So, within this approx. 1-month duration, the value of ETC has been raised by 12.5% with 4.78 USD as a good support resistance level.

Future price predictions of ETC

Although the crypto analysts have predicted ETC to be bullish for the year of 2019, it is running on a bearish trend. According to the latest update news of ETC, The ETC ecosystem can provide security to ETH while in-depth bilateral integration of ETC and ETH will truly enable an effective and secure blockchain. Even the latest updates suggest that network numbers of ETC are quite healthy in terms of transaction rate, market capitalization, and active addresses. The developers of ETC are fully focused on the value of personal data and its rate of growth over the past decade. They are also concerned with the magnitude of the effects of private data and their associated values. Taking all these concerns in mind, ETC launched Ether Node for enhancing the data safety features. ETH

The market condition being highly volatile, its developers are of the opinion that with the pacification of market, they can reach their short-term target of attaining a value of $7 and a long-term target of reaching a value of $8. We also assume that in the upcoming month, it can attain a value of $7.50 and if the market pacifies, it can even reach $8.

Conclusion

ETC is suffering due to the intense volatility that is still prevailing in the market. Once the market condition improves, its value will also revive back. It is thus better not to invest in the same right now and to wait for the right time.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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