Price Analysis

Ethereum Classic (ETC) Price Analysis: ETC Rebounds After a Small Plunge

After showing a price drop on 17th of May, Ethereum Classic has been showing slow but steady growth in its price. The cryptocurrency is currently trading at around 7.38 USD in the market. After the price drop on 17th of may, Ethereum Classic has been stable, ranging from 7.19 USD to 7.87 USD since a couple of days.

Ethereum Classic Drift

As per the Trading View chart as on 22nd May, at 9:46:38 UTC, Ethereum Classic, the crypto asset that ranked 18th, kicked off its day with its price at 7.30 USD. Since then, it has been ranging from 7.30 USD to 7.65 USD till now. Currently, the cryptocurrency indicates 811,611,349 USD as its Market Cap, showing its significance in the crypto space.

Ethereum Classic

 

According to the above data, Ethereum Classic remarkably surged on 16th May reaching 8.64 USD. The price spike gave rise to the hope that the crypto will touch the 10 USD mark. But, proving its volatility, Ethereum Classic bottomed to 6.81 USD on 17th May. Though to the relief of the Ethereum investors, ETC started gaining its value back, as it has not gone below 7 USD after that. Since the 17th of May, it has shown 16.74% of the increase as of now. After the plunge at 6.81 USD, it had reached its highest point at 7.95 USD on 19th May.

Conclusion:

Ethereum Classic investors can surely hold on to their investments as the price is likely to rise further, though not with a rapid pace. Being the second most influential cryptocurrency after Bitcoin, ETC will surge on a massive level in the next couple of years.

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Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.
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