Price Analysis

Ethereum Classic Price Analysis: Ethereum Classic (ETC) Needs a Disruption to Get out of its Comfort Zone

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  • Ethereum Classic (ETC) has shown four major price variations in the last 24 hours.
  • The target price for 2019 remains unchanged at 20 USD.

Ethereum Classic is one of the major and most sought after coins of the current times. The coin has been away from price volatility except for some intraday price variations. In the last 24 hours, the coin has shown four major variations. ETC dipped by 7.18% and lost 0.5 USD between 00:36 UTC and 06:11 UTC. It was followed by a hike of 4.31% or 0.3 USD in the next 2 hours and 55 minutes. Another huge hike was noticed between 11:32 UTC and 19:40 UTC, and the coin gained 0.4 USD or 6.46% during this hike. The latest was a hike between 21:15 UTC and 01:46 UTC and the coin gained almost 4% during these 4 hours and 31 minutes. The medium-term outlook for ETC is bullish.

ETC Price Statistics-

Ethereum Classic Price - 3 July
Ethereum Classic Price Chart
Ethereum Classic (ETC) 3rd July 03:57 UTC
Rank 20th
ROI (Return on Investment) 937.79%
Coin Circulation 111,660,329 ETC
Market Cap 868,268,544 USD
Value in USD 7.780 USD
Value in BTC 0.00069204 BTC
24h Volume 866,234,330 USD

ETC to USD Price Comparison-

ETC has shown many ups and downs in the last few months. The huge fall after April boom happened between 07th April and 25th April and the coin lost 3.4 USD in these 18 days. It was followed by a hike of 41.35% between 09th May and 19th May. And another hike of 39.72% was noticed between 22nd May and 02nd June. This period saw a growth of 2.7 USD. Another hike was noticed in the last 1 month when the coin gained 15.87% between 06th June and 24th June. The market cap on 03rd June was 1,054,239,739 USD, and the value of each coin was 9.382 USD. The current market cap and the value of each coin are respectively 17.64% and 17.07% less than the figures for the last month.

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Ethereum Classic Price Prediction-

The medium-term outlook of ETC seems bullish, and the coin may get to as high as 20 USD by the end of this year. The next resistance points are 7.93 USD, 8.16 USD, and 8.47 USD. The support levels are 7.39 USD, 7.08 USD, and 6.85 USD.

Conclusion-

The coin has huge potential to perform in the long-term. Existing holders need to wait until the end of this year for maximizing 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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