10 Jun Ethereum Classic Price Analysis $61
Ethereum Classic price is trading with a trading volume of $973,643 USD and a market cap of $3,541,169,468 USD, at the moment of this report. Ethereum Classic(ETC) is a digital currency that is similar to bitcoin, although it differs in that it has a 1:1 hard-forked blockchain. This fork happened in 2016, when the Ethereum Foundation decided to conduct a hard-fork on the main chain, resulting in a new blockchain, thus resulting in new coins. This fork was lead by the Ethereum Classic Development Team (ETCD).
The Ethereum Classic price is down over 3% in the last 24 hours from $64.
Coinbase recently announced that they will be listing Ethereum Classic on June 27. This will make it easier for users to access and trade Ethereum Classic on the popular exchange.. Read more about ethereum classic price prediction 2025 and let us know what you think.Summary of the situation
- Ethereum Classic price analysis highlights ETC’s resistance at the $61 resistance level.
- A decisive close above resistance could trigger a 15% rally.
- A close below the $49 price area would negate any upside prediction.
According to Coinmarketcap.com, Ethereum Classic is ranked 22nd at the time of writing. It currently has a market value of approximately $6.9 billion and a trading volume of $3.6 billion per 24 hours.
Ethereum Classic Price Analysis: Price Overview
The price of Ethereum Classic has fallen for the fourth consecutive day, while other crypto assets are seeing their prices rise. At the time of writing, Ethereum Classic is at $59.94, about 72% below its highest price of the year. Nonetheless, the crypto asset has seen positive price movement in this morning’s session. A few weeks ago, ETC experienced a sharp rise in prices, pushing it into impressive price ranges. This happened when retail investors rushed to buy the coin when Ethereum’s flagship reached an all-time high of around $4,000. The Ethereum coin plays an important role in the life of Ethereum Classic, as it is considered a replacement for the relatively expensive token. Despite this correlation, the decline in the price of ETCs was more pronounced than that of ETHs. Ethereum Classic’s losses accelerated overnight, with market participants raising questions about the security and privacy of virtual currencies. The move comes after the FBI successfully seized cryptocurrencies in the Colonial Pipeline scandal. Between 6 and 9. In June, the price of ETC fell 24%. Fortunately, the steady decline in price has not broken through the 79 percent Fibo retracement level at around $49. The cryptocurrency has seen a rapid price reversal from a low of $49.5, which resulted in a 33% increase, to where it is currently trading at $60.16.
Ethereum Classic price movement in the last 24 hours
Source: TradingView According to the 24-hour chart of Ethereum Classic, the price movement managed to break through the 50% Fibo retracement level at $61.7, after which the price fell back to the level it is at today. If the cryptocurrency manages to close the day above the 12-hour candle, continued price consolidation will weaken and pave the way for a rally. In this case, traders should expect Ethereum Classic to rise to break the bottom at $72. In retrospect, this increase would amount to 15% of the current purchase price. With no limit to the uptrend, Ethereum Classic’s rise could try to bypass the recent high of $79.12 and head towards the $83 area. This will be an extreme case of an upward move.
4-hour chart of Ethereum Classic
Source: TradingView On the contrary, if the ETC fails at the 50% Fibo retracement at around $62, a downtrend will be initiated. Such a move would indicate increased selling pressure or low buying activity. If Ethereum Classic fails to consolidate above the 50% Fibo retracement level, investors should expect further consolidation between $61 and $53. If the owners of the coin decide to sell it, Ethereum Classic will likely fall on a 79% Fibo correction to around $49.
If Ethereum Classic rises above the $49 price level, there is a risk that all profits will fall through and a potential downturn will begin. ETC could close at $39.60. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.The general news right now is that Ethereum Classic is gaining in price. Considering the current market conditions, this is an excellent opportunity to buy Ethereum Classic. Ethereum Classic is an innovative blockchain project that came out of the Ethereum hard fork, but it is still a child of Ethereum. This means it is not controlled by a single company and does not have a single point of failure. The Ethereum Classic project has its uses and uses in the financial sector.. Read more about ethereum classic price history and let us know what you think.
Frequently Asked Questions
Is ethereum Classic a good investment in 2020?
Ethereum Classic is a fork of Ethereum that follows the original Ethereum blockchain and is maintained by a decentralized autonomous organization called the Ethereum Classic Cooperative (ECC). Not unlike Bitcoin, Ethereum Classic has its own blockchain and is decentralized. Ethereum Classic was forked from the original Ethereum blockchain in 2016. Ethereum Classic aims to be a decentralised platform for smart contracts, similar to Ethereum, while adhering to the original ethos of Ethereum. Ethereum Classic (ETC) is a hard fork of Ethereum that was created in 2016 through a successful community-led fork of the blockchain. This article will aim to answer the question: Is ETC a good investment in 2020?
How much will ethereum Classic be worth in 2025?
On July 30, 2017, the cryptocurrency market suffered one of the biggest losses in its history. As the market fell in value, a large number of cryptocurrencies fell with it. One of those is Ethereum Classic (ETC). In the past few weeks, Ethereum Classic has seen a brief surge in value, but after the recent market crash, this coin seems to be on its way to the trash bin. Though it has been a rollercoaster ride for ETC over the last few weeks, it seems that the cryptocurrency will be here to stay. Ethereum Classic is based off Ethereum, and it contains the exact same code as Ethereum. More importantly, Ethereum Classic is meant to be a hard fork of Ethereum. This means that instead of Ethereum, it Ethereum Classic is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. Ethereum Classic is a continuation of the original Ethereum blockchain – the classic version preserving untampered history after the original Ethereum was forked into Ethereum (ETH) and Ethereum Classic (ETC).
What will ethereum Classic be worth in 2020?
Ethereum Classic makes taking to the future of digital currency feel a little bit easier. Unlike Bitcoin, Ethereum Classic is not a pre-mined cryptocurrency and is thus controlled by Ethereum’s founders. The price has been extremely volatile and unpredictable in the last year, but Ethereum Classic is on the up-and-up and is looking pretty stable for a coin that has been around for quite a while. It’s still too early to tell what the future holds for ethereum classic, but there are several factors that could lead to a positive outcome for the project, and we’ve outlined our top five below.
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