Ethereum Classic Price Prediction for Today, February 6 – ETC Technical Analysis

adminFebruary 7, 2024

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Ethereum Classic price prediction shows that ETC is likely to head towards the upper boundary of the channel after a quick retracement.

Ethereum Classic (ETC): Exploring Upside Potential

Looking ahead to a potential Ethereum ETF in May 2024, Ethereum Classic (ETC) emerges as an attractive choice due to the potential for significant price movement. With a smaller market capitalization compared to Ethereum (ETH), Ethereum Classic (ETC) offers greater profit potential. The current price of around $24.56 suggests the possibility of a continuation of the upward trend, supported by resilience above the 38.20% Fibonacci level of $23.24.

Ethereum Classic prediction statistics data:

Current Ethereum Classic price – $24.5
Ethereum Classic Market Cap – $3.6 billion
Ethereum Classic Circulating Supply – 145.4 million
Ethereum Classic total supply – 210.7 million
Ethereum Classic Coinmarketcap Ranking – 28th

ETC/USD Market

Main level:

Resistance levels: $30, $32, $34

Support levels: $19, $17, $15

Ethereum Classic Price Prediction for Today, February 6 – ETC Technical Analysis — ETCUSD – daily chart

ETC/USD is recovering above its current opening price of $24.2 and will likely rise above $25 soon as buying pressure increases. Meanwhile, Ethereum Classic price is likely to break above the 9-day and 21-day moving averages, which could allow bulls to dominate the market.

Ethereum Classic Price Prediction: ETC Could Reach $25 Level

Ethereum Classic price may break above the 9-day and 21-day moving averages to continue its upward trend. However, if ETC/USD breaks towards the upper boundary of the channel, it may encounter important resistance at $26. However, a successful break above this level could open another uptrend beyond the $28 level. The price is likely to rise towards the $30, $32, and $34 resistance levels in the next positive direction.

Nonetheless, with the 9-day moving average remaining above the 21-day moving average, the market could soon break out to the upside, but a slide to the lower border of the channel could touch the $22 support level. The next major support lies below the lower limit of the channel and while the bulls are likely to take a strong stance, further losses could lead the price towards the $19, $17 and $15 support levels.

ETC/BTC is integrated within the channel.

Relative to Bitcoin, Ethereum Classic price is currently hovering below the 9-day and 21-day moving averages and is targeting a push towards the channel upper limit. Meanwhile, increased bearish pressure may cause the market price to stay below the moving averages, but if the 9-day moving average moves above the 21-day moving average, this could confirm a bullish move.

However, if the price breaks towards the upper boundary of the channel, strength could push the market back to the resistance level of 7500 SAT. Additionally, if the price holds above this level, traders can expect immediate resistance above 7700 SAT. On the other hand, a slide below the lower boundary of the channel could find support levels below 4100 SAT.

Nonetheless, the indicators hint at a promising future, with @EtcHebeBlock sharing insights with his over 10,000 followers on Still optimistic. Despite ETC’s current market capitalization of $3.6 billion, its TVL is $710,996, indicating significant room for growth.

Currently, ETC’s market capitalization is $3.585 billion, and TVL is $710,996.
We still believe the TVL growth potential is 100x.#ETCAme #etc $ETC #Ethereum Classic pic.twitter.com/ychxGky1jK
— HebeSwap (@EtcHebeBlock) February 4, 2024

Ethereum Classic Alternatives

Ethereum Classic (ETC) price is poised to break above key moving averages and potentially face resistance near $26. Beyond this level, you could earn an additional profit of $28 or more. However, Ethereum Classic shows market strength with a market capitalization of $3.6 billion. Meanwhile, Bitcoin Minetrix ($BTCMTX) shows promising potential with a pre-sale value of $10.3 million, indicating strong investor confidence in its future growth.

Bitcoin Minetrix ICO Reaches $10 Million: Could This Be the Next Crypto Gem with 10X Potential?

Bitcoin Minetrix is gaining attention for its innovative Stake-to-Mine feature, which allows BTCMTX holders to stake their tokens for cloud mining credits. These credits can be burned to access mining power, democratize cryptocurrency mining, and expand reward opportunities. As the ongoing ICO gains momentum, Bitcoin Minetrix presents an attractive option for investors looking for an asset with long-term potential.

Interested investors can purchase BTCMTX tokens today.