Ethereum Classic [ETC] Technical Analysis and Price Prediction 2018, 2020
Amid a broader decline seen in the crypto market, Ethereum Classic [ETC] is succumbing to bearish trends. The expiry of the CME Bitcoin Futures on Friday has likely caused volatility and impacted major altcoins. In the last seven days, Ethereum Classic [ETC] saw its value go up a mere 3.6 percent and could see its prices fall further.
The digital asset is struggling under intense selling pressures, with the crypto breaching key support level noted at $13.02. The coin has since continued to decline. However, ETC has found support at $12.51 and is attempting to recover. The coin is facing resistance at the $13 mark.
The MACD, at the time of writing, showed that the virtual currency was trading in the bearish zone. The 100 EMA line indicated that the coin was in a downtrend. ETC was exhibiting a significant trading range of $12.44-$13.09. As of 2140 GMT, the crypto had edged 2.5 percent lower against the U.S. dollar to trade at $12.76.
At the time of writing, the coin had slipped 1 percent against BTC. Currently, one ETC is equivalent to around 0.00184 BTC.
Ethereum Classic [ETC] Price Prediction 2018, 2020
- According to Smartereum, experts believe the coin could trade at around $65 by the end of the year. In five years, the virtual currency is expected to be valued at $171.
- Longforecast expects the digital asset to end the year trading at $11. By the end of 2020, the coin is expected to reach around $32.
Ethereum Classic [ETC] Latest Updates
BTC.com, backed by the world’s top crypto mining firm Bitmain Technologies, said that it will now support Ethereum [ETH] and Ethereum Classic [ETC]. BTC.com, a mining pool, will also offer an Ethereum block explorer and APU. The new mining client will be available through the pool.btc.com portal. Users will be able to shift their hashing power from one pool to the other to boost profitability.
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