A product of the Ethereum Foundation, Ethereum Classic is the result of a fork in Ethereum’s protocol. The price of Ethereum Classic hasn’t really been a success since its launch. However, since the turn of this year particularly in this month of April, the cryptocurrency looks prepared to enter a new phase with a host of challenges. Recall that the primary objective of the Ethereum Classic (ETC) protocol is to cover the issues that affect Blockchain technology.
The rate at which the price of Ethereum Classic hasn’t shifted in recent days shows the pedigree and potential the coin has to make it in the digital asset space. The survival of Ethereum Classic (ETC) since the fork that saw it separated from the Ethereum Blockchain has shown the capability of ETC Classic as a digital asset that is here to stay for the foreseeable future. Does this make Ethereum Classic one of the best cryptocurrency to invest in 2019?
Ethereum Classic (ETC) Price Today – ETC / USD
Ethereum Classic Price Prediction: The Price of Ethereum Classic Has Been Aided By Positive News
After the price of Ethereum Classic ensured that the digital asset enjoys a promising market and fantastic overall performance, ETC has some positive news to thank for this. One of such important reports about Ethereum Classic is the major news about the listing of ETC on PayBito platform. It should be recalled that PayBito had announced that it will be listing Ethereum Classic to its platform. PayBito is a digital asset exchange organized by HashCash Consultants. The announcement helped the price of Ethereum Classic.
PayBito offers a range of digital assets on its platform. It allows users to easily access their crypto assets. It offers U.S withdrawals and deposits. PayBito exchange has over $6 million in trade volume. This figure shows that the exchange is a highly utilized and reliable solution.
Ethereum Classic Price Prediction: The Price of Ethereum Classic is Range Bound Above the 12-Day EMA
The price of Ethereum Classic is range bound and above the 12-day EMA. As of April 8, the price of Ethereum Classic rallied after it entered a range bound position in March. It was in that period that the bulls reached $7.74 but suffered resistance at $8.0. The price of Ethereum Classic fell to $6.30 moving above the 12-day EMA. Eventually, the price started ranging just above the 12-day EMA.
Ethereum Classic Price Prediction: A Price Breakout Will Push the Price of Ethereum Classic Above $8.0
As of April 15, the bulls tried to move above the 12-day EMA but were repelled which caused the price of Ethereum Classic to fall under the 12-day EMA. Looking at the upside, should there be a price breakout above this level, the price of Ethereum Classic could rally above $8.0.
On the other hand, in the event that there’s a price breakdown, the price of Ethereum Classic will depreciate to $5.50. The price of Ethereum Classic is now trading at $6.31 as at the time this report was published. The stochastic is in the oversold region which is under the 40% range indicating that the price of Ethereum Classic is in bearish territory.