Ethereum Classic - Will it rise or fall?steemCreated with Sketch.

in cryptocurrency •  2 years ago 

As we all know by now, the Ethereum Classic is on a downtrend. This has lasted a while. Until now.

image(From cryptocompare.com)

We have seen a strong support at the 15 USD line in the recent times, off which the price has bounced several times. This leads me to believe that ETC will have a strong and steady support at this specific point in the future as well. That is good news for the holders and people considering getting in to this coin at a good price.

So I see a bullish market from here on out, and I would suggest a buy level of $15,75 to $16.
Short term I would say $18-$20 sell level, but I can see it going even higher, maybe even break the $23 resistance we have seen a couple times. But for now it seems to be an okay range to trade in.

Disclaimer: My analysis is subjective and is based on personal experience with the market. I am not to be held responible for any loss or gain using my recommendations outlined in this post.

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In the next month or so it is likely to fall and rise and fall and rise. but most likely it will overall fall because of the mass panic 1 Aug is going to cause. But beyond that I am not sure. ETH is about to go through some major changes which will see miners leave it in droves and likely move to ETC Eth Classic. I am not sure what effect that will have on the price but it will make the trade volume go up.

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Yes. It can go down as well.
Thanks for pointing

  ·  2 years ago (edited)