Ethereum Classic receives a strong long-term technical score of 73 from InvestorsObserver‘s research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the coin’s support and resistance levels, and where it is relative to long-term averages to determine whether it’s a strong buy-and-hold investment opportunity.
ETC currently holds a superior long-term technical analysis score than 73% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. coins with a high long and short-term technical score can help indicate assets that have bottomed out, providing investors a chance to ‘buy the dip’.
ETC is currently -$14.2400000 (-48.12%) below its 100-day moving average price of $29.590000000 with its current price of $15.350000000. Meanwhile, Ethereum Classic is $2.7600000 (34.54%) above its 52-week low price of $12.600000000 and -$61.72000000 (6.94%) below its 52-week high of $77.070000000. The current price relative to its moving average and 52-week high and low leads to a strong long-term technical score of 73. Trends for the long-term trading history of Ethereum Classic suggest that traders are currently neutral on the coin.
Ethereum Classic has a market capitalization of $2,078,846,764.25 and a relatively high average daily volume with $2,236,945,187.59 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, ETC’s volume is below its seven day average with 250,001,962.47 exchanged.
Technical analysis of Ethereum Classic over the past year results in the crypto receiving a a strong long-term technical score of 73 as its price movement in that time has given traders reason to be neutral on the coin in the long-term.
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This article originally appeared on https://www.investorsobserver.com/news/crypto-update/is-ethereum-classic-etc-trending-lower-or-higher-wednesday-2