While this year started in a very bearish way for almost all the digital currencies in the market, the first quarter of the year ended in a bullish way. By the end of the first quarter, some digital currencies were recording gains of more than 100 percent. Ethereum Classic is one digital currency that also had a pretty great 2019 Q1.
The price of Ethereum Classic ended Q1 on a higher note than it started the year. This resulted in more bullish Ethereum Classic price prediction 2019 and Ethereum classic price forecast. The bullish Ethereum Classic news also contributed to the growth of ETC USD price. The second quarter also started pretty well, leading most digital currencies to test new yearly highs.
The massive recovery earlier this quarter also saw the price of Bitcoin (BTC) over the $5,600 resistance level. However, that momentum seems to have weakened and most digital currencies have lost a significant fraction of the gains they amassed earlier this month. Will Q2 end in a glorious way for Ethereum Classic? What is Ethereum Classic price prediction for Q2? Will the Price of Ethereum Classic recover?
Ethereum Classic (ETC) Q1 Ride – Will the Price of Ethereum Classic Recover in Q2?
Ethereum Classic is a very strong asset now, thanks to the Ethereum Classic Labs. The crypto project launched the ETC Labs in January this year. The firm launched the project with the aim of enhancing the Ethereum Classic network. The network has achieved a lot since they launched the ETC Labs. The project has achieved ETC-ETH compatibility, important features enhancing the environment for decentralized application development, and tooling for crucial data analytics. The number of developers added to the ecosystem of Ethereum Classic has also increased significantly, an increase of about 75 percent.
Still in the first quarter, Ethereum Classic implemented several dynamic path APIs with the configuration of Geth clients as the key feature. They have also implemented the Multi-Geth Ethereum Virtual Machine layer. Ethereum Classic has experienced a great level of success in the first quarter of this year. As the market is getting better and improving, the probability of the price of Ethereum Classic surging higher also increases.
Many digital asset investors consider Ethereum Classic (ETC) as one of the best cryptocurrency to invest in 2019. Some digital asset investors are still looking forward to the coin as a long-term investment opportunity. While the price of Ethereum Classic is currently in the red, the digital currency has the potentials to surge significantly in the short-term. Ethereum Classic might end this second quarter in a much better way due to the numerous bullish Ethereum Classic news in the crypto space.
Ethereum Classic Price Analysis – Ethereum Price Prediction – Ethereum Classic Price Forecast
The price of Ethereum Classic recently declined below the $6.5 support level. Ethereum Classic price plunged lower and broke the $6.3 and $6.2 support levels. Ethereum Classic even plunged below the $6 level and traded close to the $5.5 level before it started correcting higher. The price of ETC is currently supported at the $5.8 level. The immediate resistance of the coin is at the $6 level.
Ethereum Classic (ETC) Price Today – ETC / USD
At the press time, ETC USD live price is $5.9 after an increase of less than one percent over the past twenty-four hours. The current market cap of the digital currency over the past day is $623.80 million. The trading volume of the digital currency over the past day is $624.02 million.