{"id":539910,"date":"2023-06-27T12:30:52","date_gmt":"2023-06-27T12:30:52","guid":{"rendered":"https:\/\/wncen.com\/?p=539910"},"modified":"2024-06-11T14:38:04","modified_gmt":"2024-06-11T14:38:04","slug":"ethereum-classic-etc-soars-22-in-one-week-is-20-possible","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-classic-etc-soars-22-in-one-week-is-20-possible\/","title":{"rendered":"Ethereum Classic (ETC) Soars 22% In One Week, Is $20 Possible?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Ethereum Classic (ETC<\/span><span style=\"font-weight: 400\">) bulls have been active over the past week, bullishly pushing the token&#8217;s price with significant gains in the last seven days.\u00a0<\/span><span style=\"font-weight: 400\">An over 22% seven-day price increase saw ETC smash the $15.79 resistance level to $18.74 at press time.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Bullish signals point to more rallies for Ethereum Classic as the global market cap rallies, gradually propelling Bitcoin toward the $31,000 mark. <\/span><span style=\"font-weight: 400\">The token could be charging up momentum to conquer the $20 mark in the coming days.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Ethereum Classic\u2019s Price Swings<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Ethereum Classic (ETC) launched in July 2016 as a hard fork of Ethereum that supports decentralized applications (DApps).\u00a0<\/span><span style=\"font-weight: 400\">The main aim of Ethereum Classic&#8217;s launch is to preserve the Ethereum blockchain&#8217;s originality.\u00a0<\/span><span style=\"font-weight: 400\">Earlier in June, ETC\u2019s price retraced from its key support level of $18.25. It plunged into a bearish swing that caused severe losses for the token.\u00a0<\/span><\/p>\n<p>Related Reading: <a href=\"https:\/\/wncen.com\/altcoin\/xrp-traders-show-capitulation-why-could-bullish\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">XRP Traders Show Capitulation, Why This Could Be Bullish<\/a><\/p>\n<p><span style=\"font-weight: 400\">ETC\u2019s price rapidly nosedived from over $18 on June 4 to less than $15 in mid-June. The token traded sideways between June 10 and June 20 before shooting up to $19.17 on June 24, with an over 27% price increase.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Fortunately, ETC recovered momentum after several days of bearish movement. And Ethereum Classic was among the coins that benefited from the buzz generated by multiple Bitcoin ETF filings by leading US-based asset managers.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The token shows bullish signs as the market slightly rebounded today after a brief correction in the last 24 hours.\u00a0<\/span><span style=\"font-weight: 400\">As of the time of writing, ETC trades at $18.74, with a 24-hour price increase of 2.52% and a 22.89% seven-day growth in value.<\/span><\/p>\n<figure style=\"width: 980px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large\" src=\"https:\/\/www.tradingview.com\/x\/m9WIDVfr\/\" alt=\"ETCUSD price chart\" width=\"980\" height=\"538\"><figcaption class=\"wp-caption-text\">ETC&#8217;s price is currently changing hands at $18.74 in the daily chart. | Source: ETCUSD price chart from <a href=\"https:\/\/www.tradingview.com\/chart\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<h2><span style=\"font-weight: 400\">Can Ethereum Classic Bulls Defend The Ongoing Rally?<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Buyers took charge of the market between June 23 and 24. The increasing buying pressure pushed the trading volume from $151.66 million to over $500 million on June 24. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Though there was a pullback, another uptick in trading volume is noticeable, with a 43.29% increase in the last 24 hours. <\/span><span style=\"font-weight: 400\">This suggests the bulls are determined to claim the $20 level and could achieve the target if the uptick in trading volume continues.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Ethereum Classic&#8217;s key support level currently stands at $18.42 on its <\/span><a href=\"https:\/\/www.tradingview.com\/chart\/UbXsBwCv\/?symbol=COINBASE%3AETCUSD\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">TradingView<\/span><\/a> <span style=\"font-weight: 400\">daily chart. The bulls are working with the $19.44 resistance level in mind. But the <\/span><span style=\"font-weight: 400\">ETC price may shoot above $20 once the bulls successfully push the token off the $19.44 resistance.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/how-high-can-bitcoin-price-rise-due-spot-etfs\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">How High Can Bitcoin Price Rise Due To Spot ETFs? Running The Numbers<\/a><\/div>\n<p><span style=\"font-weight: 400\">The <\/span><span style=\"font-weight: 400\">cryptocurrency market<\/span><span style=\"font-weight: 400\"> outlook shows recovery signs as most coins trade in the green zone. But the overall market outlook suggests a mixed investor reaction since some coin prices are still red.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Bitcoin<\/span><span style=\"font-weight: 400\">, the chief cryptocurrency, has increased by 0.91% in 24 hours with a 14.20% seven-day gain, while Ethereum still fluctuates between the red and green zones.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Chances are high that ETC would sustain its rally if the market sentiment becomes fully bullish.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured image from Pixabay and chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum Classic (ETC) bulls have been active over the past week, bullishly pushing the token&#8217;s price with significant gains in the last seven days.\u00a0An over 22% seven-day price increase saw ETC smash the $15.79 resistance level to $18.74 at press time. Bullish signals point to more rallies for Ethereum Classic as the global market cap rallies, gradually propelling Bitcoin toward the $31,000 mark. The token could be charging up momentum to conquer the $20 mark in the coming days. Ethereum Classic\u2019s Price Swings Ethereum Classic (ETC) launched in July 2016 as a hard fork of Ethereum that supports decentralized applications (DApps).\u00a0The main aim of Ethereum Classic&#8217;s launch is to preserve the Ethereum blockchain&#8217;s originality.\u00a0Earlier in June, ETC\u2019s price retraced from its key support level of $18.25. It plunged into a bearish swing that caused severe losses for the token.\u00a0 Related Reading: XRP Traders Show Capitulation, Why This Could Be Bullish ETC\u2019s price rapidly nosedived from over $18 on June 4 to less than $15 in mid-June. The token traded sideways between June 10 and June 20 before shooting up to $19.17 on June 24, with an over 27% price increase. Fortunately, ETC recovered momentum after several days of bearish movement. And Ethereum Classic was among the coins that benefited from the buzz generated by multiple Bitcoin ETF filings by leading US-based asset managers.\u00a0 The token shows bullish signs as the market slightly rebounded today after a brief correction in the last 24 hours.\u00a0As of the time of writing, ETC trades at $18.74, with a 24-hour price increase of 2.52% and a 22.89% seven-day growth in value. Can Ethereum Classic Bulls Defend The Ongoing Rally? Buyers took charge of the market between June 23 and 24. The increasing buying pressure pushed the trading volume from $151.66 million to over $500 million on June 24. Though there was a pullback, another uptick in trading volume is noticeable, with a 43.29% increase in the last 24 hours. This suggests the bulls are determined to claim the $20 level and could achieve the target if the uptick in trading volume continues.\u00a0 Ethereum Classic&#8217;s key support level currently stands at $18.42 on its TradingView daily chart. The bulls are working with the $19.44 resistance level in mind. But the ETC price may shoot above $20 once the bulls successfully push the token off the $19.44 resistance. Related Reading: How High Can Bitcoin Price Rise Due To Spot ETFs? Running The Numbers The cryptocurrency market outlook shows recovery signs as most coins trade in the green zone. But the overall market outlook suggests a mixed investor reaction since some coin prices are still red.\u00a0 Bitcoin, the chief cryptocurrency, has increased by 0.91% in 24 hours with a 14.20% seven-day gain, while Ethereum still fluctuates between the red and green zones.\u00a0 Chances are high that ETC would sustain its rally if the market sentiment becomes fully bullish. Featured image from Pixabay and chart from TradingView.com<\/p>\n","protected":false},"author":568,"featured_media":539916,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1558,87549,15811,79678,9134],"class_list":["post-539910","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-cryptocurrency","tag-etc-analysis","tag-etcusd","tag-etcusdt","tag-ethereum-classic"],"acf":[],"yoast_head":"\n<title>Ethereum Classic Scores 22% In One Week, Is $20 Mark Possible?<\/title>\n<meta name=\"description\" content=\"Ethereum Classic bulls have been active over the past week, bullishly pushing the token&#039;s price with significant gains in the last week.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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