Ethereum Classic has a lot of firepower left| Long term view

30 thg 6, 2021

If you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis!

Quick glance: As of now, ETCUSD is on a steady rise. It is currently leading the rise among most other Altcoins. ETH had a good rally the past two days and has now cooled off. However, its not so distant cousin ETCUSD, or Ethereum Classic, seems to be going steady at the moment.

Market in the last 24hrs
ETC can be seen to be entering a consolidation. Such a consolidation is quite expected after such a fantastic rally over the past four days.

Today’s Trend analysis
We are likely to witness some selloff going forward in the short term. As the buying frenzy subsides, ETCUSD will reach a lower price point than current levels.
However, on a longer term horizon, the potential to go much higher above current levels exist.

Price volatility remained high at approximately 13.64%, with the day's range between $62.84 — $55.296.

Price at the time of publishing: $58.64
ETC's market cap: $6.83 Billion

• Out of 11 Oscillator indicators, 5 are neutral,1 is bullish, and 5 are bearish .
  
  
• Out of 15 Moving average indicators, 13 are bullish, 1 is bearish and 1 is neutral .
  
  
• Indicator summary is giving a 'BUY' signal on ETCUSD .
  
  Volumes have remained high in the past 24 hours.
  ----------------------------------------------------------------------------------------
  
  The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
  
  Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
  
  ----------------------------------------------------------------------------------------
  Keep supporting:)
  -Mudrex