{"id":954,"date":"2021-05-12T00:38:31","date_gmt":"2021-05-12T04:38:31","guid":{"rendered":"https:\/\/www.hodlin.com\/blog\/?p=954"},"modified":"2021-05-12T00:38:34","modified_gmt":"2021-05-12T04:38:34","slug":"ethereum-classic-price-analysis-etc-is-on-fire","status":"publish","type":"post","link":"https:\/\/www.hodlin.com\/blog\/ethereum-classic-price-analysis-etc-is-on-fire","title":{"rendered":"Ethereum Classic Price Analysis Shows ETC On Fire With 180 Percent Weekly Gains"},"content":{"rendered":"\n
\"Ethereum
Ethereum Classic On Fire<\/figcaption><\/figure>\n\n\n\n

Ethereum Classic<\/a> is the original “Ethereum<\/a>.” Therefore, as expected, the platform has smart contracting capability and interoperability with Ethereum\u2014a feature included in the Atlantis hard fork in late 2019.<\/p>\n\n\n\n

As of writing on May 10, the Ethereum Classic price analysis is quite literally off the chains, adding a massive 180 percent versus the greenback week-to-date.<\/p>\n\n\n\n

It has also outperformed against ETH and BTC during the period, attracting interest. Propelling prices was a sharp uptick in trading volumes.<\/p>\n\n\n\n

ETC trading volumes stand at $13.2 billion on the last day.<\/p>\n\n\n\n

Accordingly, at spot valuation, ETC is back to the top-20, deservedly lodged at 13th, flipping IOTA<\/a> and Tron<\/a>.<\/p>\n\n\n\n

Ethereum Classic Market Overview<\/h2>\n\n\n\n

Overly, ETC is in an uptrend. Last week’s gains were a confirmation of higher highs traced to gains of early February 2021. Technically, every low could be a loading opportunity as we advance.<\/p>\n\n\n\n

From the ETC\/USD price weekly chart, last week’s price range would serve to define price action in the next few weeks.<\/p>\n\n\n\n

Ideally, provided ETC ranges above $90 and other reaction points defined by the Fibonacci retracement levels of last week’s high-low, bulls are in control. The first target could be $175\u2014May 2021 highs.<\/p>\n\n\n\n

On the flip side, liquidation below $90\u2014in the immediate term\u2014might catalyze a sell-off towards the week ending May 2 highs of around $50.<\/p>\n\n\n\n

Ethereum Classic Market Movers<\/h2>\n\n\n\n

Ethereum Classic is Ethash powered and one of the most valuable networks using this hashing algorithm.<\/p>\n\n\n\n

Coupled with better stability and interoperability with Ethereum through various enhancements, higher liquidity\u2014being one of the few projects with support at Coinbase–, investors are flocking to ETC.<\/p>\n\n\n\n

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I don't understand why there are still people who think ETC is a trash coin when it is always on the top volume list even when it is very low priced. \ud83e\udd23#ETC<\/a> #EthereumClassic<\/a><\/p>— Fauads.com (@hungict91) May 3, 2021<\/a><\/blockquote>