Price Analysis

Ethereum Classic Price Analysis: Ethereum Classic (ETC) Is Down by $1.4; Will it Fall Even Deeper?

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  • Ethereum Classic (ETH) starts losing value, lost 1.4 USD in 1 day.
  • By the end of 2019, the coin is likely to be around 20 USD.

Like all other coins in the crypto market, Ethereum Classic (ETC) has also shown weakness over the last 24 hours.

The coin experienced its first dip of 13.48% between 00:43 UTC of yesterday and 06:40 UTC. Then a short-term hike was noticed of 5.94% that happened between 09:14 UTC and 14:52 UTC. It was followed by a fall of 15.49% that happened over 2 hours and 12 minutes. But the latest hike could drag the price from 7 USD to 8 USD in over 8 hours and 15 minutes starting from 17:05 USD.  However, the bearish movement is likely to end soon. By the end of this year, the value may be around 20 USD. Let us look at the current details of the coin.

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ETC Price Statistics-

Ethereum Classic Price Chart - 28 June
Ethereum Classic Price Chart
Ethereum Classic (ETC) 28th June 03:38 UTC
Rank 19th
ROI (Return on Investment) 915.83%
Coin Circulation 111,537,782 ETC
Market Cap 838,420,411 USD
Value in USD 7.70 USD
Value in BTC 0.00070112BTC
24h Volume 1,441,114,683 USD

ETC to USD Price Comparison-

ETC started the year with a steep fall of 31.44% that happened between 06th January and 06th February where the price fell from 5.392 USD to 3.697 USD. By 13th March, the coin started gaining and over the next 25 days, the coin has gained 110.83% trading at 8.771 USD, only to fall by 38.40% in the next 19 days until 26th April. Another hike was noticed between 9th May and 19th May. The coin gained 40.79% in this period, trading from 5.536 USD to 7.794 USD. The market cap on 28th May was 905,911,756 USD, and the value of each coin was 8.192 USD. The current market cap and the value of each coin are respectively 7.45% and 6.00% less than the values of the last month.

Ethereum Classic Price Prediction-

The coin is likely to have a bullish medium-term outlook. By the end of 2019, the coin may get to 20 USD. The next resistance points are 8.78 USD, 9.91 USD, and 10.71 USD. The support levels are 6.85 USD, 6.05 USD, and 4.92 USD.

Conclusion-

As the coin is in a much lower value, it would be a prudent decision to buy fresh coins. Long-term holding may give more than 100% return on the current investment.

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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