Price Analysis

One’s Current Investment On ETC Can Be Devalued In Future

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ETC is the real Ethereum Blockchain that enables all decentralized applications and smart contracts.  It is a fungible and blockchain immutable cryptocurrency. It runs exactly as it is programmed with no possibility of censorship, fraud, downtime or third-party interference. ETC is the continuation of the Ethereum blockchain.

Current Status of ETC

ETC is currently getting traded at USD 4.27 (UTC time 07:11). It has occupied the 18th position in the present cryptocurrency market. Its market cap has a trading value worth of USD 463,341,948. Currently, 108,631,675 ETC are available in the crypto exchanges to trade with. Compared to its yesterday’s price, the price of ETC has been deterred by -1.58% and is currently following a bearish trend in its price range.

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Price analysis of ETC on the basis of Ethereum Classic Charts

ETC

From the above chart, it is seen that the current value of ETC is $4.27 or 0.00110814 BTC (UTC time 07:14). Its market cap is currently getting traded at 463,566,313 USD with 175,462,022 USD as its 24h volume. The same chart shows that the value of ETC nearly one month back was 3.94$. So, it is evident enough to understand that within this approx. One month period, the value of ETC has been raised by 8.37%; in this one month, the price range of ETC has been on a bullish trend with $3.78 as a very good support level.

Future price predictions of ETC

On the basis of its current resistance level of $3.78, the cryptoanalysts assumed that tomorrow, the price of ETC could be around $4.82. In the long term forecast, its price is expected to be on a bearish trend. The crypto analysts also predicted that the highest price of ETC in the upcoming days (in the long term basis) could be a maximum of $23.56. So, Ethereum can increase its value in the future to a considerable extent.

Taking consideration of the future price predictions, we can say that it is not the right time to invest in ETC. It can be a profitable investment in the future but not now. It is better for the investors to wait for the right time till ETC gains back its value.

Conclusion

ETC is currently losing its worth, and the bearish trend is persistent in its price range. In the long term, ETC is expected to regain its value back to a certain extent. The investors must remain aware of the ETC’s price volatility so that they can make the right decision regarding ETC investment at the right time.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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