Ethereum Classic reaches its highest value in the last eight weeks

In recent hours, Ethereum Classic reached its highest peak in the last 8 weeks, since it surprised the electronic currency community on September 9 … By the time of writing this article, Ethereum’s bifurcated coin is located, from according to information from CoinMarketCap, at $ 14.57, having gained an increase of almost 17% from the first hours of Monday – its market capitalization is $ 1,416,550,070, which is Bitcoin equals 199,632 BTC. It is worth mentioning that, in the last weeks, the ETC had an increase of almost 39%, while monthly it has done it in a little more than 21.5%.

The numbers show that the increase has been produced, at least in part, by the groove exchanges offered by the ETC / KRW (Ethereum Classic – won South Korean) trading. To show a button, according to data from CoinMarketCap, trading volumes at Bithumb – one of the largest exchange platforms in South Korea – have increased by more than 53% in the last 24 hours; The analysis that can be seen in the following graph indicates that the crypto active could reach a price that rubs $ 18 per coin.

ETC_nov

In the figure it can be seen that the consolidation (lateral channel) ended with a bullish break, which opens the door to the cryptocurrency reaching a cost of $ 17.88 $; The relative strength index (Relative Strength Index) is overbought, so it is not possible to rule out a short-term consolidation in the range of $ 13.50- $ 15.00, before the value per coin rubs, precisely , the $ 18 … the negative part lies in the execution of a movement that is below $ 12, which could translate into the collision of the bullish outlook. It is worth mentioning that the relative strength index is an oscillator-type indicator that varies from 0 to 100, marking areas of overbought and oversold to show the strength of the price-what it does is compare upward or downward movements of closing costs -.

Eduardo Gómez

Eduardo Gómez is a Venezuelan freelance writer and Information’s Technology Professional. He discovered Bitcoin in 2012 and has been drawn to it ever since. He also works as a Customer Support Agent at the San Francisco-based Bitcoin startup Purse.io

Eduardo Gómez

Eduardo Gómez

Eduardo Gómez is a Venezuelan freelance writer and Information's Technology Professional. He discovered Bitcoin in 2012 and has been drawn to it ever since. He also works as a Customer Support Agent at the San Francisco-based Bitcoin startup Purse.io