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Price Analysis

Ethereum Classic Price Embarks Bearish Trend, But Still Holds Hope for an Upsurge

  • Ethereum Classic (ETC) price takes a steep fall.
  • Intraday traders can expect a positive closing.

Ethereum Classic (ETC) is popular for paving the path for itself. In the most recent days, the coin was seen climbing up. The coin reflected that it doesn’t get controlled by Ethereum anymore. The traders were quite impressed by the coin. The same resulted in favor of Ethereum and it was seen that coin climbed from 19th position to 16th position in the market (as per Coinmarketcap).

To understand the momentum more precisely, let’s have a look at the intraday chart of Ethereum Classic (ETC).

Current Statistics of ETC:

  • The price of the coin is at $6.50.
  • The coin is at the 16th rank in the market.
  • The ROI is marked at 763.99%.
  • $736,349,730 is noted as the market cap of Ethereum Classic (ETC).
  • The 24hr volume stands at $689,752,577.
  • The circulating supply has 113,281,860 ETC.

ETC to USD Price Comparison:

The chart is taken from Trading View on 07th September 2019 at 09:17:55 UTC for price analysis.

Ethereum Classic Price
ETC Price Chart by TradingView

Yesterday, ETC opened at $7. During the maximum hours of the day, the coin was seen trading at the same level. Later, ETC dropped from $6.9 to $6.4 by 7.46%. Today, ETC started trading at $6.46, but later shifted to a lower level. Now, it has again embarked a walk of improvement. ETC’s price is currently trading at $6.5 with a progression of 0.62% from the opening price.

ETC Price Prediction and Conclusion:

Ethereum Classic (ETC) has reflected many times that it has great potential. The fall and uptrend in the crypto market are usual. The recent drop in the coin might be a little scary, but it is expected to improve soon. The entire market is speculated to start price rally and come out of the price drop that took place in the first two months of the third quarter.

In the coming years, the coin is likely to deal with a 4% to 5% profit. The best-suited investment for Ethereum Classic would be a long-term investment. The specified duration is expected to give huge dividends to investors.

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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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