Ethereum Classic Price Analysis: Ethereum Classic (ETC) Touches $9 For a While; Resistance Likely at $9.2

  • Ethereum Classic (ETC) touches $9 for a while yesterday.
  • The 2019 target remains unchanged at 20 USD.

Ethereum Classic has shown huge market potential in the last 24 hours. The two large price variations helped the coin to shock the intraday traders yesterday. The first shift happened between 07:09 UTC and 10:33 UTC. In this period the coin gained 2.78%. After that, the coin managed to forward with stability. At 20:40 UTC, the coin started growing. And in the next 6 hours and 34 minutes, the coin has yielded over 5.80% to make the coin reach beyond 9 USD. However, since last few minutes, the coin is in a downtrend. However, the medium-term outlook for ETC stays bullish. By the end of 2019, the value may get as high as 20 USD. Let us look at the current details of the coin to understand its growth pattern.

ETC Price Statistics-

Ethereum Classic Price Chart - 22 June
Ethereum Classic Price Chart
Ethereum Classic (ETC) 22nd June 04:06 UTC
Rank 19th
ROI (Return on Investment) 1,091.07%
Coin Circulation 111,391,864 ETC
Market Cap 994,615,973 USD
Value in USD 8.824 USD
Value in BTC 0.00083213BTC
24h Volume 946,228,904 USD

 ETC to USD Price Comparison-

At the starting of the year 2019, ETC faced a dip in the price. There was a fall of almost 30%, which happened over 31 days from 06th January. But the onset of April brought good growth to the coin. From 13th March to 07th April the coin managed to get its price hiked by 110.54% to fall again by 38.37% in the next 19 days. The latest hike started from 22nd May, and it gave the coin a surplus of 38% over the next 11 days. The market cap on 22nd May was 821,065,795 USD, and the value of each coin was 6.897 USD. The current market cap and the value of each coin are 21.13% and 27.93% more than the figures for the last month.

Ethereum Classic Price Prediction-

As per our Ethereum Classic ETC price prediction, ETC is likely to have a bullish medium-term outlook. By the end of this year, the value may get as high as 20 USD. The next resistance points are 8.863333333 USD, 9.006666667 USD, and 9.213333333 USD. The support levels are 8.513333333 USD, 8.306666667 USD, and 8.163333333 USD.

Conclusion-

The coin has started showing huge price variations in the intraday market. This will help in attracting speculators or short-term investors.

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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