BTC$49 193.22


ETH$4 116.36


Binance Coin








Ethereum Classic (ETC) Could Be Plotting for a Triple Top

July 2020

Just as we predicted in our last ETC price analysis, the 23rd cryptocurrency has descended to the macro support level at $5,3 upon forming the double top pattern on the daily time frame. The bears dealt a blow to Ethereum Classic as its gains in USD and ETH from last month have gone in the red by 1.75%.

Last week, however, was quite fruitful for Ethereum Classic that made a 15% sprint to the upside in the USDT market; 12.4% in the pair with Bitcoin; 7.8% when traded against Ethereum. This considerable price boost happened due to the implementation of the system upgrade dubbed Phoenix that made this network fully compatible with the original Ethereum blockchain. The upgrade could have served as an incentive for the bullish side of the market, especially since the altcoin market is blooming while Bitcoin is ceding the ground, but the bears appear to have the upper hand in this market. 

The ETC market offers a good entry point

Right now, Ethereum Classic is sitting right in the middle of a wide trading channel between $5.3 and $7.6, which, as you can see on the daily chart below, has worked well during the price cycle before the last. Therefore, it is correct to assume that the price action in the ETC/USDT market over the next four weeks will not go beyond the borders of this channel unless the entire altcoin market takes the bullish action up a notch.

1-day ETC/USDT chart

So far, there have been no evident prerequisites for another big move in either direction as the trading volume has been on the decline after the aforementioned upside spike. The decrease of volume after the impulse is usually associated with the commencement of the consolidation phase, although it is not customary for Ethereum Classic to start ranging in the middle of the designated channel.

Therefore, traders are likely to witness at least a 10% move sometime next week. Judging from the showings of principal indicators, the move is likely to be directed to the downside. However, there is also a possibility of a dash to the upside in the direction of resistance at $7,6, in case big players would want to shake down the hasty traders who would jump the gun before the price even approached the resistance. In that case, we are likely to see the emergence of the triple top pattern that would add to the overall bearish context of this market and confirm the price reversal.

The RSI is sloping down after a huge spike from 35 to 63, which coincided with the last bullish impulse. However, we already see a hidden bullish divergence as the indicator made a lower high while the price remained flat;

MACD seems to have reversed after the prolonged slide and the bullish crossover below zero, but the way the price reacted to it by staying flat hints at the weakness of the sellers;
The price is now at the upper line of Bollinger Bands that has been serving as resistance throughout the current cycle of price action. Since Ethereum Classic displays the tendency towards sticking to the lower line of BB, we reckon that the price will drop to $5.3 over the next ten days.

All in all, the BitTorrent market is rather dull right now, though it still offers an opportunity for a 15% to 20% short play over the coming week.

Author: Alex Paulson for


Ethereum Classic (ETC): Will It Ever Recover After 51% Attacks?
Ethereum Classic (ETC): Will It Ever Recover After 51% Attacks?
Ethereum Classic (ETC) Suffers the Third 51% Attack
Ethereum Classic (ETC) Suffers the Third 51% Attack
Ethereum Classic (ETC) 51% Attacks Hinder the Price Growth
Ethereum Classic (ETC) 51% Attacks Hinder the Price Growth
Ethereum Classic (ETC) Remains Hopelessly Bearish
Ethereum Classic (ETC) Remains Hopelessly Bearish
Ethereum Classic is Climbing Up Sluggishly
Ethereum Classic is Climbing Up Sluggishly
Ethereum Classic: Expecting Further Price Reduction
Ethereum Classic: Expecting Further Price Reduction
Ethereum Classic (ETC) Goes From Gainer to Loser
Ethereum Classic (ETC) Goes From Gainer to Loser
Ethereum Classic (ETC) Price Prediction
Ethereum Classic (ETC) Price Prediction
What 2020 may hold for Ethereum Classic
What 2020 may hold for Ethereum Classic

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 71.6% 50 $49 193.22 -7.23% -9.28% $929 329 350 425 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 81.2% 36 $4 116.36 -1.41% 2.01% $488 235 923 439 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 80.8% 32 $561.89 -4.29% -4.45% $93 723 146 872 BNB 7 days price change
4 Tether (USDT) USDT Tether predictions 94.4% 1 $1.001881 0.18% 0.13% $74 297 173 480 USDT 7 days price change
5 Solana (SOL) SOL Solana predictions 71.6% 62 $196.65 -3.68% 5.13% $60 103 456 849 SOL 7 days price change
6 Cardano (ADA) ADA Cardano predictions 67.2% 72 $1.39 -8.99% -7.87% $46 392 712 007 ADA 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 91.2% 2 $1.000412 0.03% 0.07% $40 042 314 055 USDC 7 days price change
8 XRP (XRP) XRP XRP predictions 68% 66 $0.833702 -8.59% -10.36% $39 390 183 603 XRP 7 days price change
9 Polkadot (DOT) DOT Polkadot predictions 63.2% 76 $28.88 -12.51% -15.64% $28 521 499 285 DOT 7 days price change
10 Terra (LUNA) LUNA Terra predictions 68% 62 $72.27 18.51% 68.39% $28 015 046 896 LUNA 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 67.2% 73 $0.173763 -11.84% -13.14% $23 003 781 874 DOGE 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 63.2% 75 $90.60 -13.00% -15.64% $21 989 955 830 AVAX 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 65.2% 76 $0.000036 -8.82% -3.38% $19 811 050 065 SHIB 7 days price change
14 Chain (CRO) CRO Chain predictions 59.2% 86 $0.599768 -2.91% -17.36% $15 151 941 276 CRO 7 days price change
15 Binance USD (BUSD) BUSD Binance USD predictions 94.8% 1 $1.000770 0.14% 0.03% $13 610 910 664 BUSD 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2021

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.