Ethereum Classic (ETC) is presently experiencing an increase in its market worth, gaining 13.99% within the final 24 hours, in response to data from CoinMarketCap.
Following the ETC’s dip within the final two days, it seems the bulls have retaken management of the market, pushing the coin to commerce above the $20 mark for the primary time since April.
ETC’s Price Action In June
Ethereum Classic has discovered a spot among the many headlines within the final two weeks following its preliminary bearish kind initially of June. ETC started the month buying and selling round $18.01 earlier than experiencing a nosedive which noticed the token commerce as little as $13.99 on June 10.
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Thereafter, ETC would rise to $15.03 and hover round this worth area for the subsequent few days earlier than embarking on a bullish run that to realize by 28.60% between June 20 and June 24, hitting the worth resistance degree at $19.33.
The following days would then current a blended worth motion earlier than ETC lastly retraced to its key help degree at $17.64 on June 29. After retesting at this worth zone, ETC’s worth has resumed its uptrend, climbing larger since then.
Ethereum Classic (ETC) stays one of many main tasks within the cryptocurrency house. Launched in July 2016, Ethereum Classic is a tough fork of Ethereum created to protect the aim and integrity of the unique Ethereum community.
At the time of writing, ETC is exchanging arms at $20.90, with a 1.51% acquire within the final hour. The token’s 24-hour buying and selling quantity is presently valued at $482 million, having additionally gone up by 208.92%.
ETC Trading At $21.03 On The 1-Hour Chart | Source: ETCUSD Chart On Tradingview.com
ETC Price Analysis And Prediction
Looking on the ETC’s hourly chart, its Moving Average Convergence Divergence (MACD) stays effectively above the sign line indicating the token’s bullish run should be on.
However, its Relative Strength Index (RSI) is presently within the overbought zone at 89.71, which means a promoting stress could quickly happen, which can drive down the token’s worth.
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According to the prediction website, WalletInvestor, if the bulls handle to maintain shopping for stress, ETC’s worth would expertise solely a small rise reaching the market worth of $21.42 in 14 days.
However, if the reverse is the case, and ETC falls underneath bearish stress, the staff predicts the token to fall to a market worth of $18.00.
That mentioned, a lot of the crypto markets are additionally on an uptrend alongside Ethereum Classic (ETC). Market chief Bitcoin (BTC) is up by 0.87% within the final day, whereas different notable cash similar to Cardano (ADA) and Solana (SOL) are additionally gaining by 7.41% and 6.72%, respectively.
Featured Image: The Guardian Nigeria, chart from Tradingview.
