Price Analysis

Will the Bears Gain Control Over Ethereum Classic (ETC) Again?

eToro

Ethereum Classic price since the end of October month indicates a slightly upside movement. However, currently, it is trading downwards. ETC was priced at $5.008 on October 31, 2019 with the movement being upward. On the same day there was a drop in the price of 5.73%. The price continued to fall until the next day, post which there was a rise of almost 5% on November 2, 2019. There were a few falls, and Ethereum Classic managed to reach $5.03 yesterday with the uptrend maintained.

Ethereum Classic Price Prediction:

Ethereum Classic is reflecting a downtrend by 3.28% as compared to yesterday’s trading price of $5.036. The same movement is likely to remain for some time. As per the current trend, we suggest selling the old coins in hand. It can be traded within a similar price range as yesterday.

eToro Crypto

Currently, the number of coins being traded have been oversold as per the RSI indicator. On the upside, ETC has the potential to reach up to its immediate resistance $5.01, and if the coin moves downwards, it may face next support around $4.7.

ETC to USD Price Chart
Ethereum Classic Price Chart By TradingView

Resistance & Support Levels

R1: $5.01, R2: $5.06 and R3: $5.12

S1: $4.9, S2: $4.84 and S3: $4.79

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.

Related Articles

Back to top button