Price Analysis

Ethereum Classic Price Analysis: Ethereum Classic’s (ETC) Near Moderate Pace May Delay the Price Rally

  • ETC has shown four major price variations in the last 24 hours.
  • By the end of this year, the coin is likely to be around 20 USD.

Ethereum Classic (ETC) has been on the priority list of intraday traders or speculators as it has been giving quick returns due to its increased price variations. The coin has shown 4 major variations in the last 24 hours. The first hike was between 00:36 UTC and 04:01 UTC yesterday. The hike was of 3.36%. It was followed by a steep fall of 3.86%, which happened in the next 6 hours and 35 minutes. Another hike of 5.90% happened between 13:44 UTC and 17:17 UTC. But the final fall is the crucial one as it is the fall which has defined the current price. The weakening started at around 21:09 UTC, and in the next 3 hours and 11 minutes, the coin lost 6.77%. Let us analyze the current details of the coin.

ETC Price Statistics-

Ethereum Classic Price Chart - 24 June
Ethereum Classic Price Chart
Ethereum Classic (ETC)24th June 03:17 UTC
Rank19th
ROI (Return on Investment)1,098.19%
Coin Circulation111,440,410 ETC
Market Cap1,003,794,510 USD
Value in USD8.990 USD
Value in BTC0.00084546BTC
24h Volume939,837,169 USD

ETC to USD Price Comparison-

ETC faced its first fall between 6th January and 06th February. In this period it lost 32.06% of its value. It was followed by a hike of 110.83% between 13th March and 07th April. This growth was not a long-lasting one. Soon ETC fell by 38.49% over the next 19 days. The latest major growth happened between 22nd May and 02nd June. The coin gained 37.94% in these 11 days. The market cap on 24th May was 810,261,719 USD, and the value of each coin was 7.310 USD. The current market cap and the value of each coin are respectively 23.88% and 22.98% more than the figures for the last month.

ETC Price Prediction-

The medium-term outlook is bullish for ETC. The coin, by the end of 2019, is likely to be traded around 20 USD. The resistance points are 9.56 USD, 9.84 USD, and 10.09 USD. The support levels are 9.03 USD, 8.78 USD, and 8.5 USD.

Conclusion-

Ethereum Classic has been profitable for short-term traders. Holding the coin until this year’s end may give a 100% return on investment.

Tags

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.

Related Articles

Back to top button
Close