In short: Ethereum Classic's price has seen significant gains in the last seven days, with a 22% increase to $18.74 and potential momentum to reach $20. The market cap rally could further propel the token, and bullish signals point to more rallies. Ethereum Classic launched in 2016 as a hard fork of Ethereum for decentralized applications and aims to preserve the originality of the blockchain. The bulls' increasing buying pressure may drive the token off the resistance level at $19.44 and sustain its rally if the market sentiment becomes fully bullish.
Our quick analysis:
Are you tired of the same old cryptocurrencies dominating the market? Look no further than Ethereum Classic (ETC), the underdog with major potential.
In the past week, ETC has seen impressive gains, rising over 22% and breaking through the $15.79 resistance level to reach $18.74 at the time of writing. And with bullish signals pointing to more rallies for ETC, the token could be charging towards $20 in the coming days.
But ETC's price swings have been anything but predictable. After a bearish swing caused severe losses for the token, ETC recovered momentum and benefitted from the buzz generated by Bitcoin ETF filings by leading US-based asset managers.
Now, ETC bulls are defending their ongoing rally, pushing the trading volume from $151.66 million to over $500 million on June 24. And with a key support level currently at $18.42 and the bulls eyeing the $19.44 resistance level, the question remains: can ETC sustain its rally and conquer $20?
While the cryptocurrency market outlook shows recovery signs, with Bitcoin up 0.91% in the past 24 hours and a 14.20% seven-day gain, some coin prices still remain in the red. But if the market sentiment becomes fully bullish, ETC could be the dark horse to watch.
So don't count Ethereum Classic out just yet. With ETC bulls hitting their stride, $20 could be the next milestone for this unique and promising cryptocurrency.
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Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
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