Ethereum Classic (ETC): price analysis, January 02

Analysis of classic prices of Ethereum – ETC / USD

Ethereum Classic is an open source public distributed computing platform based on blockchain with intelligent contract functionality. It provides a decentralized virtual machine complete with Turing, the Ethereum virtual machine, which can execute scripts using an international network of public nodes.

The seventeenth largest cryptocurrency – It is believed that Ethereum Classic has gained value by creating upward trend & # 39; as clearly visible from the previous analysis. The ETC with its current market capitalization stands at the level of $ 569,440,686, 11:28 UTC of 2 January 2019 reduced by the current value of 45% compared to the level of 6 November 2018; however it gained dramatically in value by 52.4% compared to 6 December 2018, as interpreted by the graph above.

Let us not forget that the current bullish trend will go to all those who have experienced the strong downward trends that have caused a decrease in the current value compared to the level of 6 November 2018.

As both moving averages showed a significantly negative negative sign until November 5, 2018, however the 20-day EMA currently indicates the "uptrend" in terms of value and encouragement to all those who are long-awaited for trade in particular with this resource. All community users who are prone to this cryptocurrency, current value offers an excellent opportunity to create the long position in it.

Now let me guide you through a milestone that this cryptocurrency has achieved in the recent past. The ETC remained in the range from August 14, 2018 to September 2, 2018 this year, as the cryptocurrency rallied from $ 11.84 to a maximum of $ 14.66, with a yield of 23, 8% within 19 days.

In addition to this, ETC remained in the range of $ 8.950 to $ 10.041 from October 10, 2018 to November 13, 2018 and has since recorded a "downward channel" analyzed by the previous analysis.

Let us not forget that both the moving averages continue to fall further than the current "upward trend" in value, and the 14-day RSI is forming a "positive divergence" from the recent past. This is a bullish sign.

If the bulls are able to rise and hold above the current resistance level of $ 5.47 (11:35 UTC) and remain of "bullish" value (ie traded above the EMA), investors they will continue to buy this currency more and more by increasing its value. However, based on the current trend, the next level of support could be $ 6.