Ethereum classic has been lacklustre and stagnant today. It sits at 53.37 cents at press time with no movement in sight for the current day’s price to go up or down from here on out. It did pick up one position recently.
Though Market cap currently stands at 7 billion while volume hovers around 866 million leaving room for some positive growth if things turn around soon. Unfortunately, the coin is pretty stagnant in the day and ranking number 29 among other coins.
Ethereum Classic Price Analysis
When it comes to Ethereum Classic, there has been a stagnant, if not downturn in the volume, shown that capital is leaving ethereum classic. Ultimately this could be one of its most significant drivers for deviation from bitcoin. This also happens to have good news causing more money and assets to head towards BTC.
One significant catalyst that helped propel Bitcoin’s price up was an ETF associated with said currency, so knowing about such things should help investors decide where they want their investments to go.
Ethereum Classic ETC is one of the few cryptocurrencies that can withstand the current bear market. As a result, it has performed well alongside its peers and looks like it’s about time for an uptrend again.
The price of Ethereum Classic was noted to have been trading near its support level at $49.69, currently trading at $53. With a decrease in value from around 1.63%.
Technical analysis by this point showed that there’s been no significant movement yet. However, consolidation is still possible before another rise into the range between 51-54 dollars per coin where overhead resistance can be found.”
Ethereum Classic ETC Future
According to FxStreet,
“There is a projected swing low around late November 2021 that could put Ethereum Classic price near the $24.00 value area. The next significant swing high range to target is a confluence zone between $265 and $298”.
It looks like we finally see some positive momentum in the markets! Bulls are on watch as prices continue to trade higher. If they see an opportunity, there’s no telling where this could go; what do you think?