In this Ethereum Classic technical analysis, we will examine the current price action, trading volume, key levels and indicators for ETC-BTC. Ethereum Classic (ETC) is a decentralized, open-source blockchain that enables the creation of smart contracts and decentralized applications. It was created in 2016 as a result of a hard fork from the Ethereum blockchain, and has since established itself as a unique and independent platform with its own set of features and use cases. With its strong developer community and commitment to preserving the original vision of Ethereum, ETC has carved out a niche for itself in the rapidly evolving world of blockchain technology.
Ethereum Classic Price Overview:
As of May 12, 2024, Ethereum Classic is trading at approximately 0.00044 BTC. Let’s dive into the detailed price action for ETC-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.00044 |
| High (H) | 0.00044 |
| Low (L) | 0.00043 |
| Close (C) | 0.00044 |
| Volume (C) | 10,996.42 |
- Open (O): The opening price for today’s trading session was approximately 0.00044 BTC.
- High (H): Ethereum Classic reached a daily high of around 0.00044 BTC.
- Low (L): The daily low for ETC-BTC was approximately 0.00043 BTC.
- Close (C): At the time of analysis, Ethereum Classic is trading near its daily close of 0.00044 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | 0.51% |
| 3D Change (%) | -0.23% |
| 7D Change (%) | 1.20% |
| 30D Change (%) | -0.41% |
| 90D Change (%) | -18.80% |
| YTD Change (%) | -15.54% |
Over the past three days, ETCBTC has dropped by approximately -0.23%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 1.20%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with ETCBTC maintaining a downward trend of approximately -0.41%, despite intermittent fluctuations. Examining the last 90 days, ETCBTC has witnessed substantial decline of approximately -18.80%, reflecting strong long-term confidence. Year-to-date, ETCBTC has steadily declined by around -15.54%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Ethereum Classic Live Chart:
You can access a live price chart for ETC-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.34103.
- Momentum score is 0.0355.
ETC BTC Technical Analysis
Ethereum Classic Trading Volume:
The trading volume for Ethereum Classic (ETC) over the past 24 hours has been insignificant, with approximately 10,996.42 BTC traded against ETC. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): ETC is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Ethereum Classic is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for ETC-BTC is currently in the neutral zone, around 47.39002. This suggests that Ethereum Classic is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Ethereum Classic (ETC-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.
Consider bearish sentiment in Ethereum Classic (ETCBTC) at 4.38e-04 BTC with technical analysis, showcasing weakened support and cautionary indicators.
Don’t overlook our detailed insights on ETC USDT Ethereum Classic Technical Analysis if you found this post captivating; it’s a must-read for further exploration.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.