Ethereum Classic (ETC) Market Update: Bullish Run Continues
Ethereum Classic (ETC) has seen a significant rise in its market price, gaining 13.99% in the last 24 hours. After a recent dip, the bulls have taken control, pushing the coin above the $20 mark for the first time since April.
Key Points:
– ETC started June trading at $18.01 and experienced a nosedive to $13.99 on June 10.
– The coin then rose to $15.03 and hovered around that price before a bullish run that gained 28.60% between June 20 and June 24.
– After some mixed price action, ETC retraced to its key support level at $17.64 on June 29 and has since resumed its uptrend.
– Ethereum Classic remains a major project in the cryptocurrency space, preserving the purpose and integrity of the original Ethereum network.
– ETC is currently trading at $20.90, with a 1.51% gain in the last hour and a 24-hour trading volume of $482 million.
ETC Price Analysis And Prediction
Looking at the hourly chart, ETC’s Moving Average Convergence Divergence (MACD) remains above the signal line, indicating a continued bullish run. However, the Relative Strength Index (RSI) is in the overbought zone, suggesting potential selling pressure.
According to WalletInvestor, if buying pressure is sustained, ETC’s price could rise to $21.42 in 14 days. Conversely, if bearish pressure takes over, the token may fall to $18.00.
Other cryptocurrencies are also experiencing an uptrend, including Bitcoin (BTC), Cardano (ADA), and Solana (SOL).
Hot Take
ETC’s recent bullish run is a promising sign for investors. However, the overbought RSI indicates a potential price correction. It will be interesting to see if ETC can sustain its upward momentum or if a pullback is imminent. Keep an eye on the market and monitor ETC’s price action in the coming days.
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