Ethereum Classic News, Market Analysis

Ethereum Price Over $55 USD, Could Imply Boosted Price Pump.

The Ethereum Classic (ETC) price index is flat today, up 0.4 percent. The coin is still trading over the $55.09 USD support level, while the price resistance is at $54.75 USD.

With a record high of $55.09 USD and a low of $53.8 USD, the ETC price index is currently in a solid position today. On the daily chart, the price movement looks to be in the bearish zone, but the bullish general meeting will undoubtedly push the price into the positive zone. The ETC/USDT pair increased by 0.1 percent, but CoinmarketCap statistics show that trading volume has increased by 32.4 percent, to $905 million, with a 0.28 percent market share.

Ethereum Price Over $55 USD, Could Imply Boosted Price Pump.

Ethereum Classic Price Chart – Source: CoinMarketCap

In October, the ETC/USDT pair has not witnessed as much movement as other currencies. At the start of the month, the price of the coin surged by 14%. For the past three weeks, however, the ETC has shown hints of fragility. This month, prices increased by 12%, climbing from $46.6 to $57.45 per month. The coin is presently worth around $55.09 USD.

Although the ETC price analysis is less than 50 moving days and 100 days, we can expect significant changes in the future weeks.

The Bollinger Bands are shrinking, signaling a decrease in volatility, as evidenced by their stable position. In the following days, we should expect a significant evacuation from the lower end.

The RSI index, on the other hand, shows a negative trend, indicating that sell pressure is greater than buying pressure. Also, as we can see, it is currently below the 50 levels, indicating that the bears are in control.

Ethereum Classic was a well-known contract network that aimed to protect the Ethereum blockchain’s integrity. Manages and maintains a set of distributed applications (DApps).

The ETC’s long-term price analysis is very promising, as the currency has increased by 12% in less than a month. However, the current analysis resembles the bearish odor that surrounds the currency. We should expect further ups and downs in altcoins, including ETC, if Bitcoin suffers a surge in violation of its current full-time (ATH).

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