Ethereum Classic price forecast: ETH has emerged as a standout in the decentralized blockchain sector, with its price making a remarkable jump of 5% within a mere 24-hour window. Currently, the Ethereum Classic price is trading at $36.41. This upward trajectory suggests a bullish trend is unfolding in the market for Ethereum Classic.
Ethereum Classic’s trading volume has seen a robust increase, soaring over 196% to reach $1.7 billion in the same time frame. This surge in trading activity points to a heightened interest from the cryptocurrency trading community. Positioned 22nd on CoinMarketCap, Ethereum Classic boasts a live market capitalization of $5.17 billion, marking a significant milestone.
For the first time since September 2022, the price of Ethereum Classic has climbed past the $35 threshold, catching the eye of investors and traders. Recently, the currency has witnessed a substantial rise, appreciating more than 45% over the past month and over 28% in the last week, following a bullish breakthrough.
Ethereum Classic Price Forecast: Bullish Trends Propel ETC Forward
Market momentum for Ethereum Classic accelerated after it fluctuated within a higher trend band, ranging between $30 and $37 for about a week. This movement culminated in a push past the resistance level. The market’s optimism is mirrored in the broader cryptocurrency landscape, with Bitcoin surpassing the $64,000 mark and Ethereum breaking the $3,400.
If the market maintains its current upward momentum, the price of Ethereum Classic (ETC) might soon exceed the $40 level. This progress could set the stage for a rally toward the $50 resistance area. An extension of this bullish trend could even test the $60 resistance barrier. On the flip side, a negative shift in market sentiment could push ETC back down to the $30 support zone, with a further drop to $20 possible if the situation deteriorates.
Ethereum Classic Price Forecast: Potential for Further Growth
Technical analysis of daily trading charts presents a positive outlook for ETC’s short-term path. The Moving Average Convergence Divergence (MACD) indicator shows promising signs, with a significant bullish indication as the MACD line overtakes the signal line, suggesting it’s a good time to buy.
The market’s buying strength is further underscored by the Relative Strength Index (RSI), which has climbed above 70. This points to a stronger buying momentum compared to selling pressure. Additionally, the Awesome Oscillator is displaying green bars, reinforcing the bullish sentiment in the market.
The post Ethereum Classic Price Forecast: Will ETC Soar To $60 Mark By The End Of March? appeared first on CoinGape.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed