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- 1 Ethereum Classic price prediction suggests ETC crypto may continue the recovery in the coming months.
- 2 ETC price defends the $14.00 support and regains the $15.00 mark.
- 3 Ethereum Classic price is trading near its long-term demand zone.
Ethereum Classic price prediction remains bullish till ETC crypto holds the $14.00 support. It suggests that the recovery in the ETC price may continue in the coming months.
ETC price is trading below the 200-day and 50-day EMA denotes a downtrend. However, the EMAs are sloping sideways so prices are likely to consolidate before deciding the direction.
In the middle of August, the Ethereum Classic crypto price broke the $18.00 support. It triggered a negative sentiment and the ETC price fell 23% in just 3 trading sessions.
However, the recent downfall is due to the sell-off in the overall crypto market. So a downside in ETC looks limited and a bounce back is possible.
At the beginning of June, the sellers of Ethereum Classic tried to drag the prices below $14.00. But luckily they failed and prices took a U-turn. It showcases that buyers are active near $14.00 and acting as a demand zone for the bulls.
Ethereum Classic price is trading at $15.87 with an intraday rise of 0.06%. The 24-hour volume to market cap is 2.35%.
Ethereum Classic’s Potential Impact on ETH Casinos
Stability and resilience of Ethereum Classic have caught the attention of various sectors, not least of which is the world of online gambling. With the ETC’s price holding firm at the $14.00 mark, could this be an indicator of its increasing adoption in ETH casinos? Why ETH Casinos Might Look to Ethereum Classic:
1. Consistent Value: ETH casinos thrive on predictability. The ETC price’s steadfastness around $14.00, even with broader market fluctuations, suggests a level of consistency that could benefit casino transactions.
2. Diversification: ETH casinos traditionally rely on Ethereum. However, with Ethereum Classic showcasing such resilience, it could be an attractive alternative for diversifying digital currency portfolios in these casinos.
3. Market Sentiment: The swift recovery of Ethereum Classic in June, and its capacity to defend its support level, indicates a strong market sentiment. Such positivity could translate to heightened trust among ETH casino operators and players alike.While Ethereum remains the primary choice for many ETH casinos, the ongoing performance of Ethereum Classic suggests potential for its increased adoption in the industry. The recent price trends and market dynamics of ETC highlight its viability not just as an investment asset, but also as a functional digital currency within the realm of online gambling. In essence, as Ethereum Classic continues to solidify its position in the crypto market, its intersection with sectors like ETH casinos could prove to be mutually beneficial, and a trend worth monitoring for stakeholders in both domains.
Is Ethereum Classic Price Cheap at Current Levels?
Ethereum Classic price prediction favors the bulls but for the short term narrow range consolidation is possible. ETC price is in a recovery phase and buyers are trying to hold the $15.00 level.
Till the ETC crypto price sustains above the $14.00 support the possibility of continuing the recovery remains high. However, the confidence of the buyers will be visible when prices climb above the 200-day EMA.
On the other hand, if the situation gets worse and the Ethereum Classic price drops below $14.00. Then 10% more downside will open which will take the prices to $12.00.
ETC Price Analysis on Weekly Time Frame
ETC Price fell 11% in the previous week and formed a bearish candle on a weekly time frame. However, in the current week buyers defended the previous low and formed a Doji.
The MACD curve in ETC crypto is also reversing upward and might generate a positive crossover. It indicates bulls are active and took the recent sell-off as an opportunity to accumulate ETC.
The RSI curve at 38 is recovering from the oversold territory and may reach the neutral zone soon.
Conclusion
Ethereum Classic price prediction is bullish and suggests ETC price will continue the recovery. Buyers seemed to be active near $14 and took the sell-off as an opportunity to accumulate ETC crypto at cheap prices. Therefore, No need to worry, ETC is still good for long-term investment.
Technical levels
- Resistance levels: $20.36 and $25.00
- Support levels: $14.00 and $12.62
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
