Ethereum Classic Price Analysis: Ethereum Classic (ETC) May Take More Days to Show Strength; Resistance Likely at $8.05

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  • Ethereum Classic (ETC) faces price swings in the range of 3% to 9% over the last 24 hours.
  • The next resistance is likely to be around 8.05 USD.

Ethereum Classic has been performing with huge stability for the past few days. Though there have been few instances of steep price changes, the closing price doesn’t swing drastically. The last 1 day has experienced 4 price swings. The first swing was a fall of 9.83% over 10 hours and 4 minutes. It was followed by a hike of 4.94% over the next 35 minutes. It was again followed by a fall of 3.48% between 16:11 UTC and 19:54 UTC. The latest was a hike of 7.92% that happened over 4 hours and 43 minutes that started from 19:54 UTC. The medium-term outlook, however, is bullish for ETC. The coin is likely to be around 20 USD by the year’s end. Let us analyze the current details of the coin now.

ETC Price Statistics-

Ethereum Classic Price Chart - 2 July
Ethereum Classic Price Chart
Ethereum Classic (ETC) 2nd July 04:21 UTC
Rank 20th
ROI (Return on Investment) 932.00%
Coin Circulation 111,636,505 ETC
Market Cap 825,866,346 USD
Value in USD 7.589 USD
Value in BTC 0.00072173 BTC
24h Volume 838,059,192 USD

ETC to USD Price Comparison-

ETC faced its first fall of 2019 on 06th January and lost 31.81% over the next 31 days. Then the major growth happened between 13th March and 07th April, and this period gave the coin a whopping 107.97%. It was followed by a fall of 38.91% over the next 19 days. The latest growth was of 73.30% that happened between 09th May and 2nd June. It was again followed by a steep fall of 19.57% over the next 25 days. The market cap on 2nd June was 976,591,557 USD, and the value of each coin was 9.563 USD. The current market cap and the value of each coin are respectively 15.43% and 20.64% less than the figures for the last month.

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Ethereum Classic Price Prediction-

The medium-term outlook of ETC is bullish, and the target of 2019 remains at 20 USD. The next resistance points are 8.05 USD, 8.34 USD, and 8.7 USD. The support levels are 7.4 USD, 7.04 USD, and 6.75 USD.

Conclusion-

The coin has good times ahead, and it is likely to be profitable for both long-term holders and intraday traders.

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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