Price Analysis

Ethereum Classic Price Analysis: ETC Starts Dwindling; Is there Any Steep Movement Likely To Happen?

  • Ethereum Classic (ETC) has shown five major price variations in the last 24 hours.
  • The next resistance point may be found at 8.3 USD.

Ethereum Classic has become a perfect example of a stable coin with no huge price swings. The coin has been successful in maintaining its price range in the last few days of volatility as well. In the last 24 hours, the coin has shown five major price swings.

The first fall of 6.5% happened between 02:17 UTC and 07:44 UTC. It was followed by a hike of 2.6% that happened in the next 1 hour and 51 minutes. Again a fall of 7.64% was noticed between 09:33 UTC and 16:07 UTC. It was again followed by a hike of 5% over the next 4 hours and 42 minutes. The latest one is a fall of 4.93% that happened over 3 hours and 18 minutes from 20:48 UTC.

The medium-term outlook of ETC is bullish, and the coin may reach as high as 20 USD by the year’s end. The current details of the coin are as follows:

ETC Price Statistics-

Ethereum Classic Price Chart - 1 July
Ethereum Classic Price Chart
Ethereum Classic (ETC)1st July 04:08 UTC
Rank20th
ROI (Return on Investment)959.78%
Coin Circulation111,611,454 ETC
Market Cap888,482,271 USD
Value in USD7.950 USD
Value in BTC0.00071801 BTC
24h Volume902,346,653 USD

ETC to USD Price Comparison-

Ethereum Classic, just like other coins of the crypto market, also started gaining at the onset of April like all other coins. From 1st April to 07th April, the coin gained over 82.85%. It was followed by a small fall of 38.54% over the next 18 days. Again, a huge hike of 71.37% was noticed over 24 days from 09th May that helped ETC to go beyond 9.5 USD. It was followed by a steep fall of 19.10% that happened over 25 days from 02nd June.

The market cap on 1st June was 969,819,669 USD, and the value of each coin was 8.633 USD. The current market cap and the value of each coin are respectively 8.38% and 7.91% less than the figures for the last month.

Ethereum Classic Price Prediction-

The medium-term outlook of ETC is bullish, and by the end of 2019, the coin is likely to be around 20 USD. The next resistance points are 8.323333333 USD, 8.916666667 USD, and 9.213333333 USD. The support levels are 7.433333333 USD, 7.136666667 USD, and 6.543333333 USD.

Conclusion-

The coin has a huge potential to have a price rally in the future. Existing holders need to be patient until the year’s end for maximizing returns.

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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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