Price Analysis

Ethereum Classic Price Analysis: Will Ethereum Classic’s Current Dip Last Long?

  • Ethereum Classic experienced a consistent fall in the last 24 hours.
  • The medium-term target remains at 20 USD.

Though Ethereum Classic (ETC) has been able to attract many new investors with the help of its stability, it is not going to work if it cannot grow. Ultimately, investors are profit-centric, and if the coin languishes for more duration, it is likely to face a crowding out. The last 24 hours has not been an excellent day for ETC. With no signs of revival or any short-term growth, the coin has fallen from 8.851 USD to 8.301 USD. Since the very starting of the day, the coin managed to grow by a little margin. However, the medium-term of ETC is still bullish, and in the short-term as well it is likely to grow after a few setbacks. By the end of this year, the value may go as high as 20 USD. Let us look at the current details of the coin.

ETC Price Statistics-

Ethereum Classic Price Chart -19 June
Ethereum Classic Price Chart
Ethereum Classic (ETC)19th June 03:11 UTC
Rank18th
ROI (Return on Investment)1,027.49%
Coin Circulation111,318,337 ETC
Market Cap941,388,166 USD
Value in USD8.501 USD
Value in BTC0.00092915BTC
24h Volume621,178,237 USD

ETC to USD Price Comparison-

Ethereum Classic could not show any sign of growth in the initial months of 2019. From 06th January to 23rd February it could not make any huge improvements and the lowest point (3.719 USD) from the start of the year until now, falls in this period only. However, the April boom pushed the coin on 1st April to gain a whopping 82.27% over just 6 days to fall by 38.49% in the next 19 days to 5.381 USD from 8.748 USD. The market cap on 19th May was 850,230,880 USD, and the value of each coin stood at 7.834 USD. The current market cap and the value of each coin are respectively 10.72% and 8.51% more than the values of the last month.

Ethereum Classic Price Prediction-

The coin, both in short-term and long-term is likely to have a bullish run. The coin may face resistance around 10 USD, and by the end of this year, it may get as high as 20 USD.

Conclusion-

Buying fresh coins would be a prudent decision. Long-term holding is the key for maximum profit reaping.

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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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