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

The Ethereum Traditional value prediction reveals that ETC is more likely to head towards the higher boundary of the channel after a speedy retracement.

Ethereum Traditional (ETC): Exploring Upside Potential

In anticipation of a possible Ethereum ETF in Could 2024, Ethereum Traditional (ETC) emerges as a compelling alternative attributable to its potential for important value actions. With a smaller market capitalization in comparison with Ethereum (ETH), Ethereum Traditional (ETC) provides higher potential for positive factors. The present value of round $24.56 suggests the potential for an upward development continuation, supported by its resilience above the 38.20% Fibonacci degree at $23.24.

Ethereum Traditional Prediction Statistics Information:

Ethereum Traditional value now – $24.5
Ethereum Traditional market cap – $3.6 billion
Ethereum Traditional circulating provide – 145.4 million
Ethereum Traditional complete provide – 210.7 million
Ethereum Traditional Coinmarketcap rating – #28

ETC/USD Market

Key Ranges:

Resistance ranges: $30, $32, $34

Assist ranges: $19, $17, $15

ETC/USD is at the moment recovering above the opening value of $24.2 and it’s more likely to climb above $25 quickly if the bulls enhance the shopping for stress. In the meantime, the Ethereum Traditional value is more likely to cross above the 9-day and 21-day shifting averages for bulls to dominate the market.

Ethereum Traditional Worth Prediction: ETC Might Hit $25 Degree

The Ethereum Traditional value could cross above the 9-day and 21-day shifting averages to proceed the bullish motion. Nevertheless, if ETC/USD breaks towards the higher boundary of the channel, it might go to an necessary resistance at $26. Nevertheless, a profitable break above this degree might open one other enhance above the $28 degree. The value is more likely to rise towards the $30, $32, and $34 resistance ranges within the subsequent optimistic path.

However, because the 9-day MA hovers above the 21-day MA, the market could quickly break to the upside however sliding towards the decrease boundary of the channel might contact the $22 help. The following main help is beneath the decrease boundary of the channel, the place the bulls are more likely to take a powerful stand however any additional losses may lead the value to $19, $17, and $15 help ranges.

ETC/BTC Consolidates Inside the Channel

Towards Bitcoin, the Ethereum Traditional value is now hovering beneath the 9-day and 21-day shifting averages, aiming to move towards the higher boundary of the channel. In the meantime, the market value could stay beneath the shifting averages if the bears enhance the stress but when the 9-day MA crosses above the 21-day MA, this could possibly be a bullish motion affirmation.

Nevertheless, if the value breaks towards the higher boundary of the channel, bulls would possibly push the market again to the resistance degree of 7500 SAT. Furthermore, if the value stays above this degree, merchants could count on a direct resistance at 7700 SAT and above. Then again, sliding beneath the decrease boundary of the channel could find the help degree at 4100 SAT and beneath.

However, whereas indicators recommend a promising future, @EtcHebeBlock, sharing insights together with his 10k+ followers on X (previously Twitter), stays optimistic in regards to the coin’s potential for a 100x enhance in Whole Worth Locked (TVL). Regardless of ETC’s present market capitalization of $3.6 billion, the TVL stands at $710,996, indicating important room for development.

The present market capitalization of ETC is $3.585 billion, however the TVL is $710,996.

We imagine there’s nonetheless a 100x potential for TVL development.#ETCArmy #ETC $ETC #EthereumClassic pic.twitter.com/ychxGky1jK

— HebeSwap (@EtcHebeBlock) February 4, 2024

Ethereum Traditional Options

The Ethereum Traditional (ETC) value is poised to surpass key shifting averages, doubtlessly going through resistance close to $26. A breakthrough above this degree might result in additional positive factors above $28. Nevertheless, Ethereum Traditional demonstrates market power with a $3.6 billion market cap. In the meantime, Bitcoin Minetrix ($BTCMTX) exhibits promising potential with a presale valuation of $10.3 million, indicating sturdy investor confidence in its future development.

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