This technical analysis of Ethereum Classic delves into the current price action, trading volume, key levels, and indicators for ETC-USDT.
Ethereum Classic (ETC) is a decentralized, open-source blockchain that empowers users to create smart contracts and develop decentralized applications. Its native cryptocurrency, ETC, enables secure and transparent transactions and digital asset management on the Ethereum Classic network. As a fork of the original Ethereum blockchain, Ethereum Classic maintains the core principles of decentralization, security, and scalability that have made Ethereum one of the world’s most popular blockchain platforms.
Ethereum Classic Price Overview:
As of July 10, 2024, Ethereum Classic is trading at approximately 20.95 USDT. Let’s dive into the detailed price action for ETC-USDT:
| Metric | Value |
|---|---|
| Open (O) | 20.64 |
| High (H) | 21.22 |
| Low (L) | 20.43 |
| Close (C) | 20.95 |
| Volume (C) | 269,224.73 |
- Open (O): The opening price for today’s trading session was approximately 20.64 USDT.
- High (H): Ethereum Classic reached a daily high of around 21.22 USDT.
- Low (L): The daily low for ETC-USDT was approximately 20.43 USDT.
- Close (C): At the time of analysis, Ethereum Classic is trading near its daily close of 20.95 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 1.50% |
| 3D Change (%) | 6.02% |
| 7D Change (%) | -7.05% |
| 30D Change (%) | -21.30% |
| 90D Change (%) | -37.91% |
| YTD Change (%) | -4.47% |
Over the past three days, ETCUSDT has experienced a notable increase of approximately 6.02%, indicating a surge in market volatility. In contrast, its performance over the last week has been marked by a decline of around -7.05%, suggesting a decrease in investor interest. A 30-day analysis provides a more comprehensive view, revealing a downward trend of approximately -21.30% despite occasional fluctuations. Looking back at the past 90 days, ETCUSDT has witnessed a substantial fall of approximately -37.91%, reflecting a significant loss of long-term confidence. Year-to-date, the cryptocurrency has steadily decreased by around -4.47%.
Ethereum Classic Live Chart:
You can access a live price chart for ETC-USDT 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 0.49644.
- Momentum score is -0.12636.
ETC USDT Technical Analysis
Ethereum Classic Trading Volume:
The trading volume for Ethereum Classic (ETC) over the past 24 hours has been insignificant, with approximately 269,224.73 USDT 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-USDT is currently in the low zone, around 39.72097. This suggests that Ethereum Classic is in bearish territory.
Analysis from TradingView:
Our Key Takeaways: Ethereum Classic (ETC-USD) is currently experiencing short-term bearish momentum, with key support and resistance levels drawing attention from traders and investors. As they navigate this market, it’s crucial to keep a close eye on the USDT monthly resistance level and the USDT support level for potential trading opportunities. Furthermore, the low RSI reading and insignificant trading volume are warning signs indicating a possible downward trajectory.
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Ethereum Classic (ETCUSDT) faces challenges, trading at 20.72 USDT, as technical analysis signals weakened support and cautionary indicators.
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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.