Ethereum Classic (ETC): Price Analysis, Feb 14

5 years ago

Ethereum Classic (ETC) is considered as a smarter blockchain that operates on a decentralized network and community, and it allows traders to make complex contracts on its platform. It operates autonomously when certain conditions are met, and it also acts as the transaction fees to miners, relying on the Ethereum network. Ethereum Classic is similar to gold and is thus mined with the intention to be a store of value. Their volume will be restricted because Ethereum Classic has set a limit of 230 million tokens. So, it is pretty clear that investors will try to make the most of the benefits with this crypto by remaining vigilant on their price hikes and downs.

Current information

The current price of Ethereum Classic is trading at $4.14 USD as of 14th February 2019 (UTC 7:36). Its current market rank is #18. Its Market Cap as of today is $448,691,686 USD with 24 hour volume of $ 206,907,368 USD.

Price analysis with Ethereum Classic Chart

From the above chart, it is seen that the current price of Ethereum Classic as of 14th February 2018 is 4.14 USD. If we estimate its current price to the price of Ethereum Classic on Jan 26, 2019, which was 4.36 USD, we can clearly state that a bearish trend has followed. The price of Ethereum Classic rallied to a low of 4.13 USD from a hike of 4.36 which is a -5.04% fall. At this point, the earlier resistance of 4.04 USD acted as strong support.

Future price predictions of Ethereum Classic on the basis of its recent value

From the graph above, it was seen that the current price of Ethereum Classic is $4.13 USD or 0.00114032 BTC. Its market cap as of 14th February 2018, is currently trading at $447,288,882 USD (UTC Time 07:37) with its 24h volume is set at 192,950,447 USD. The current resistance level is $4.13 which is acting as a good indicator to the future price of Ethereum Classic.

According to the cryptoanalysts and on the basis of the current price of Ethereum Classic, its price is expected to be on -3.6% on the move to $3.99, within the next 7 days, it can be -3.1% on the move to $4.01 and in one month, it can be -90.3% which is approximately $0.40158. In 3 months, it can even lower down to a very significant extent. So, from this long term forecast, it is very much evident that in the upcoming days, the price of Ethereum Classic will deter to a great extent, indicating a notable reduction in its worth.

Summing up

Ethereum Classic is thus expected to be cheaper in the upcoming days with its current resistance level at $4.13. Even, as per the assumptions of the cryptoanalysts, the future price of Ethereum Classic will decline to a considerable extent thus, making a handful of opportunities for the traders and investors to spend in this crypto. Moreover, with its added blue-chip feature, this crypto has an added layer of security and thus promises investors of more profitable returns.