Price Analysis

Ethereum Classic Price Analysis: Ethereum Classic (ETC) Loses Value; Support Level is at $7.3

  • Ethereum Classic (ETC) loses value in the last 24 hours by a slight margin.
  • The target for 2019 is set at 20 USD.

Ethereum Classic has been playing smoothly and with huge stability for the last few days. The coin, however, has shown five major price swings in the last 24 hours.  The first fall happened between 04:41 UTC and 05:16 UTC, and this fall are accounted for 5.08%. It was followed by a huge gain of 10.26% that happened over the next 6 hours and 28 minutes. A fall was waiting next for ETC on 11:42 UTC. This fall was of 5.93% that happened over 5 hours and 49 minutes. It was followed by a short growth of 2.76% over the next 1 hour and 44 minutes. The latest fall happened today between 01:06 UTC and 02:32 UTC. The coin has lost 3.72% in these 86 minutes.

The medium-term outlook, however, is bullish for ETC. The coin is likely to reach 20 USD by the end of this year. Let us look at the current details of the coin.

ETC Price Statistics-

Ethereum Classic Price Chart - 29 June
Ethereum Classic Price Chart
Ethereum Classic (ETC)29th June 04:09 UTC
Rank20th
ROI (Return on Investment)936.39%
Coin Circulation111,562,520 ETC
Market Cap870,906,589 USD
Value in USD7.627 USD
Value in BTC0.00066646 BTC
24h Volume927,059,121 USD

ETC to USD Price Comparison-

ETC faced its first fall between 06th January and 06th February. The coin has lost almost 31.73% in these 31 days trading from 5.456 USD to 3.725 USD. By the starting of April, the coin started gaining, and it gained over 110.87% between 13th March and 07th April from 4.158 USD to 8.756 USD. A fall of 38.75% followed it in the next 19 days trading at 5.363 USD from the latter. There was another hike of 38.45% between 22nd May and 02nd June that pushed the trading value to 9.5 USD. The market cap of ETC on 29th May was 895,884,951 USD, and the value of each coin was 8.159 USD. The current market cap and the value of each coin are respectively 2.78% and 6.52% less than the values of 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 8.196666667 USD, 8.363333333 USD, and 8.686666667 USD. The support levels are 7.706666667 USD, 7.383333333 USD, and 7.216666667 USD.

Conclusion-

The coin is not at its optimal value, so this price is best to start investing in fresh coins. Long-term holding may give maximum returns on the current investment.

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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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