Ethereum Classic Price Analysis: Investors Need to Wait Longer to See Ethereum Classic (ETC) Running

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  • Ethereum Classic (ETC) shows five huge price variations in the last 24 hours.
  • The target for 2019 remains unchanged at 20 USD.

Ethereum Classic is one of the major coins which have been showing huge stability in the market despite the rough times the market went through. ETC has shown five major price swings without changing the final value by a huge margin.

ETC fell by 2.10% between 01:35 UTC and 03:07 UTC. It was followed by a hike of 0.167 USD over the next 3 hours and 36 minutes. Another dip in the price can be noticed between 06:42 UTC and 09:10 UTC. This dip cost the coin almost 0.2 USD. It was followed by a hike of 1.27%, and this hike added 0098 USD to ETC. The latest hike was of 3.38%, and that happened between 18:07 UTC and 00:11 UTC. The medium-term outlook of ETC is bullish, and the target for 2019 remains at 20 USD. Let us now analyze the current details of the coin.

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ETC Price Statistics-

Ethereum Classic Price Chart - 4 July
Ethereum Classic Price Chart
Ethereum Classic (ETC) 4th July 03:13 UTC
Rank 20th
ROI (Return on Investment) 934.50%
Coin Circulation 111,684,269 ETC
Market Cap 868,211,885 USD
Value in USD 7.807 USD
Value in BTC 0.00065175 BTC
24h Volume 767,773,143 USD

ETC to USD Price Comparison-

After the April boom, ETC fell down by almost 40%, and this fall dragged the coin from 8.7 USD to 5.3 USD. This was followed by a hike of 40% between 09th May and 19th May where the coin traded from 5.543 USD to 7.774 USD. Again after a short gap, the coin experienced a hike of 37.17% between 22nd May and 2nd June that led the coin to trade around 9.5 USD. It was followed by a fall of 16% over the next 4 days, where the value fell to 8.018 USD. The latest fall happened between 24th June, and 27th June and this fall cost the coin 1.5 USD or 16% of its value.

The market cap on 04th June was 934,369,256 USD, and the value of each coin was 8.389 USD. The current market cap and the value of each coin are respectively 7.08% and 6.93% less than the values of the last month.

ETC Price Prediction-

The medium-term outlook of ETC is bullish, and the coin is likely to be around 20 USD by the end of this year. The next resistance points are 7.97 USD, 8.07 USD, and 8.23 USD. The support levels are 7.71 USD, 7.55 USD, and 7.45 USD.

Conclusion-

The coin may not show any huge price movement now, but the medium-term is likely to have a price rally. New investors need to buy coins now as the price is at the lowest possible point now.

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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