Ethereum Classic ETC Short Term Goal to Hit $7 and Then $8 With The Recovering Cryptocurrency Market

While the Ethereum price prediction for the year is still bullish, the Ethereum Classic to Bitcoin trading pair is bearish. According to the Ethereum Classic technical analysis on Bitcoin Exchange Guide, the price of Ethereum Classic will move higher if it is able to break the resistance at $8. According to the analysis, the current resistance levels for the Ethereum Classic to USD pair are $7, $7.50, $8. The demand or support levels are $4, $4.5, $5. The price of Ethereum Classic is still range bound between $6 and $6.5.

As the Ethereum Classic price improved, the 50-day simple moving average moved above the Bollinger Middle Band. The stochastic oscillator is moving slowly from the north-east to the north. It is below the 60 range.

Ethereum Classic Price Prediction – Ethereum Classic News Today

Ethereum Classic Price Today- ETC/USD

Ethereum Classic

If the price rise against the USD, it will most likely break the resistance at $7 before another correction kicks in. In the next three to four bullish sections, the price of Ethereum Classic may hit the $8 level. Traders have been encouraged to wait until the price action is more concrete to make long trades.

This may not be the best time to sell as more gains may be on the way soon. Short-term traders should sell when the price of Ethereum Classic gets to the $7 – $8 level while long-term traders should sit back and enjoy the show. Don’t forget that this Ethereum Classic price prediction is not guaranteed. The cryptocurrency market is volatile and difficult to predict. No one can determine the price prediction with a 100% guarantee. So, you need to trade carefully.

Ethereum Classic ETC Price Analysis

Ethereum Classic prediction, just like other cryptocurrencies in the market, has been bullish since the beginning of the year. During the last seven days, however, the entire cryptocurrency market started recording loses against the USD. This weekend, the loses intensified against the USD. Altcoins fell more significantly while Bitcoin was able to retain most of its gains. Since yesterday, the prices have been recovering. In fact, the entire market is bullish against the USD thanks to Bitcoin for hitting the $5600 mark.

According to the latest Ethereum Classic ETC analysis on cryptonewsz;  the recent major update regarding Ethereum Classic is the development of embed SVM technology. The latest technology will allow EVM, i.e. Ethereum Virtual Machine and SpitnikVM to be used in embedded applications. Another good news in its favor is the upgrading of ETC JIT compiler that will help in translating of byte code to the native code. The upgrade will decrease the time of program implementation by 3 to 4 times.

On the top of that Ethereum Classic (ETC) developers have a roadmap for the EVM backend objective for LLVM. Looking at the current ventures of Ethereum Classic (ETC), many analysts have predicted for a bullish year ahead in Q2 of 2019; ETC may hit $ 8 mark in the first week of May and reach $35 by the end of the year

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Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.


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