Ethereum Classic price increased by 16.73% over the past 24 hours.

Ethereum Classic price increased by 16.73% over the past 24 hours.

Performance after Sunday 17-Jul
Period Pct Chg Momentum
Sunday 11.27% 1.95
Week ending 2022-07-17 27.23% 4.12
July 32.91% 4.94

Ethereum-Classic Analysis

Ethereum Classic (ETCUSDT) price for the week ending 2022-07-17 gained 27.23% or 4.12 higher to 19.95. At time of writing into Monday’s trading session, Ethereum Classic has increased by 16.73% over the past 24 hours. For the record, Ethereum-Classic is -88.06% below all-time high of 167.09. On Sunday, ETC rose 11.27% to 19.25.

On the daily timeframe, price is above 9-Day EMA and Stochastic oscillator is rising but in overbought zone, our analysis is that there is bullish momentum and price could continue to go higher.

For the month-to-date, ETC is up by 32.91% or 4.94 higher.

What can we expect from Ethereum Classic today?

Looking ahead on Monday, immediate upside resistance level at 20.96 (R1) while on the downside, we are looking at daily low of 16.85 as an important support. Break below this level could weaken the current bullish momentum.
Ethereum Classic need to break on either side to indicate a short-term bias. A break above 20.61 would suggest bullish bias after recent positive movement.

For the week ending 2022-07-17, take note that Ethereum Classic is rising and up by 27.23% as the pair continued to trade higher in the past few days. Prior performance for the week ending 2022-07-10 was 2.16%.

Key levels to watch out:

R3 24.72
R2 22.66
R1 20.96
Daily Pivot 18.90
S1 17.20
S2 15.14
S3 13.44

Last updated: 02:07 am UTC, 18-Jul 2022

About Ethereum Classic

Ethereum Classic is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.Ethereum Classic is a continuation of the original Ethereum blockchain – the classic version preserving untampered history; free from external interference and subjective tampering of transactions.Transaction FinalityEthereum Classic believes the core value proposition of any blockchain is immutability; valid transactions can never be erased or forgotten. Individuals interacting on Ethereum Classic are governed by this reality;Code is Law. This does not necessarily mean that code replaces existing laws, or that only code is law (there are many geographical jurisdictions), but it gives users the opportunity to enter into a new blockchain-based jurisdiction where agreements are governed by code.By entering into contracts on Ethereum Classic, you can be certain that the network remains neutral. The outcome of transactions will be dictated by code you voluntarily interact with. Unless explicitly defined by the contract code, there are no reversals, no undos, no opt-outs.Transactions are final; applications are unstoppable.Decentralized GovernanceThere are many problems that fester due to centralization and opaqueness; corruption, unaccountability, nepotism, inefficiency and stagnation. Ultimately, centralization leads to fragility; only decentralized systems can stand the test of time.These problems can be only solved by adhering to governance systems that do not rely on a central point of failure. Just like distributed networks and the consensus protocol itself, we believe that only truly decentralized projects can survive in the long run.Ethereum Classic manifests these values by relinquishing control by a formalized central foundation. The only hierarchy is that of transparent meritocracy and mutual reputation. No backroom deals or behind-closed-doors unilateral decision making; just free and open discourse.

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