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Analysis and Price Predictions Of Ethereum Classic

Heather Lynn

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Ethereum classic

Ethereum is a fast appearing cryptocurrency in the world. The Ethereum blockchain is established on the contract system. It is a great platform for users of cryptocurrency. It helps the developers to run different applications. With the support of decentralized blockchain, the developers will be able to run the application. In the last some days, it has rated quite constantly. In 2017, it is growing at about 3600%. That’s why many investors are also looking at Ethereum. Ethereum classic price supports a value token is called “classic ether”. It can be transferred among participants. The major resistance level of Ethereum is $16.00 and the major support level is $14.25.

Reasons:

Ethereum can be appreciated because of some reasons:

  • Growing application users
  • Many companies using decentralized cloud-based applications.
  • Great usage of smart contracts.

These 3 reasons defined that why Ethereum is widely used. You should remember that the more platform is used the price of token would be higher.

Price Resistance:

Decent Upside Move:

The decent upside move in Ethereum Classic Price over the $14.25 and 15.00 Resistance level opposite to US dollar. The ETC/USD pair changed close to the $16.00 resistance, it stops to gain more. The buyer tries to break the $16.00 but they failed. After this, the price moved below $15.00.

Important Hurdle:

The price cleaned the 100 hourly moving average. But it creat support near $14.25. The last wave Fib retracement level 61.8% from $13.21 low to $16.03 high also helped. ETC price rebound and is currently dealing above $15.00. The important hurdle for the client is close the $16.00 level.

Price Prediction:

In 2018 it is expected that Ethereum maybe reaches around $2500. Similarly, in 2019, it is predicted that Ethereum would be around $14000. And in 2020 it is imagined that Ethereum may be about $31000.

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