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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 18th largest cryptocurrency – Ethereum Classic with its current market capitalization stands at the level of $ 478,949,907 (11:15 UTC) of January 11 dropped to current value by 55.46% compared to the level of November 06 analyzed by the graph above. The strong downward pressure that caused a decrease in value corresponding to 6 November. However, the ETC / USD pair has remained 'up' & # 39; from December 18th to January 6th as interpreted by the graph above which indicates the uptrend.
Against this backdrop, the ETC / USD pair gained 27.5% dramatically over 6 December, which can be analyzed from the above chart, which explains that the uptrend could expect to accelerate soon!
Since both, the moving averages have been cut like a stone creating downward pressure on the value. In addition to this, ETC shows that bears have their hands high while the ETC / USD pair remains in bearish trend for some time until the next "uptrend". Traders who would like to invest in this cryptocurrency could explore to create a long position when the "uptrend" takes place and remains for some time. The altcoin could expect to offer the best return across the board.
Now let me guide you through a milestone that this cryptocurrency has achieved in the recent past. The ETC / USD pair remained between December 17 and December 24 last year, as the cryptocurrency recorded a rally from a minimum of $ 3.67 to a maximum of $ 5.77, with a minimum return of 57.4% within seven days.
Ethereum Classic (ETC) is a smarter blockchain, and is a network, a community and a cryptocurrency that brings digital resources forward. This allows people to send mutual value and allows complex contracts that operate independently and can not be changed or censored. ETC acts like a smartphone in which it can do everything in the same way as Bitcoin. If the Internet were simply a collection of interconnected computers and did not have users or creators building websites, it would be largely useless. The blockchain needs users and creators. So ETC has both cases where their community solves the real problems of interconnection of people and their devices.
In addition to this, ETC has some of the most extensive network activities of any blockchain, consistently superior to Bitcoin Cash and neck-and-neck with Litecoin. They also have several development teams, all committed to ETC's long-term vision. It is said that the ETC is the top-10 of the programmer's activity (measured by the committed code). With this, they have numerous sources of funding and continue to grow, day by day, commit-by-commit, line by line of code to create a bulletproof network that anyone can use.
Now let me accompany you in the trading moment of ETC's Price and Market Cap as follows:
How can we quickly analyze from the above chart that MCap is at MCap $ 478,949,907, (11:15 UTC) with the blue trend line, and Price (BTC) 0.00121316 through the orange trend line with 24 hour volume 134.022,502 (10 : 34 UTC) can be interpreted from the graph above. How can we interpret from the above graph that the highest Mcap was traded on January 7th, and Price / BTC was January 6th, since both have fallen like a stone, however starting today they have started to gain value creating in that way upward trends!
While we can estimate from the first chart, if the bulls are able to rise and sustain above the current resistance level $ 4.5 (11:33 UTC) and create an "upward" value (ie negotiated above the 39; EMA), investors will begin to buy this currency more and more thus increasing its value. It seems that this altcoin will soon begin to negotiate over the 20-day EMA thus creating the bullish model and could remain for some time. However, based on the current trend, the next level of support could be $ 5.
Do not hesitate to visit https://ethereumclassic.org/ to learn more about this cryptocurrency!
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