Price Analysis

Ethereum Classic Price Analysis: Ethereum Classic’s Daily Bullish Swings Paves the Way to Price Rally

  • Ethereum Classic (ETC) has shown three price variations in the last 24 hours.
  • The next resistance level may be at 8.74 USD.

Ethereum Classic has gone out of its conventional way of stable growth. In the last 24 hours, the coin has shown three major price variations giving ample space for intraday traders to reap huge profits. The first major fall happened between 03:00 UTC and 20:00 UTC. The coin lost 2.42% of its value in this period. Then the coin grew by 2.73% over 1 hour and 17 minutes. There was another growth term of 3 hours and 34 minutes when the coin gained 2.80%. All there variations are below 3 percentage points. The medium-term outlook is likely to become bullish for ETC. The price, by the end of this year, may get as high as 20 USD. Let us look at the current details of the coin.

ETC Price Statistics-

Ethereum Classic Price Chart - 21 June
ETC Price Chart
Ethereum Classic (ETC)21st June 04:26 UTC
Rank19th
ROI (Return on Investment)1,037.08%
Coin Circulation111,342,714 ETC
Market Cap951,938,157 USD
Value in USD8.626 USD
Value in BTC0.00088121BTC
24h Volume654,841,694 USD

ETC to USD Price Comparison-

The first dip in the price of ETC happened on the 1st Week of January when the coin lost over 30% of its value in 31 days. The next event to note was the onset of April boom, which managed to trap the coin for a few days. At first, the coin grew by 82.31% over 6 days to fall by 38.73% in the next 19 days. Another major growth in the recent past happened between 22th May and 2nd June. In this period the coin gained 38.64%. The market cap on 21st May was 825,024,888 USD, and the value of each coin was 7.421 USD. The current market cap and the value of each coin are respectively 15.38% and 16.23% more than the figures for the last month.

Ethereum Classic Price Prediction-

The medium-term outlook of ETC is bullish, and the target remains at 20 USD. The next resistance points are likely to be at 8.623333333 USD, 8.746666667 USD, and 8.883333333 USD. The support levels are 8.363333333 USD, 8.226666667 USD, and 8.103333333 USD.

Conclusion-

The latest variations are to continue for a while, and this may give huge profits to the intraday traders. Long-term holding may give the investors at least 150% return over 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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