Ethereum Classic Records Slight Recovery At $6: Price Analysis

Ethereum classic records a slight recovery at the $6 price level after seeing a strong surge which led the asset to the 12-month high at the start of 2020. After the surge, however, the asset crashed down in March and somehow managed to recover but lost its strength a month ago, so let’s see more in the Ethereum classic news future analysis.

Ethereum classic records another recovery following the Mid-march price crash but over the past month, the coin seemed to have lost strength. It even broke one of the key support levels a few days ago which is something that the coin has to overcome in the future. ETC saw an excellent performance from the start of the year as in the first week of January while most coins struggled and were uncertain whether they will go up or down. ETC started surging and the price made slight jumps at the beginning, getting small resistances.

However, they were always broken with relative ease and Ethereum Classic was able to make another major surge that took it up from $5.50 to about $12. This level however was a strong resistance that rejected the price all the way to $9. The support was broken and the price started growing again trying to breach the new resistance forming around $9. The price had a hard time with the support from around 10 days after which it increased again, making another run to $12 and spending most of the February trying to go over it and make new support levels.

Unfortunately, It never succeeded as February neared its end, the price dropped to $9 where it remained during March. Most of the coins managed to hold rather well and tried another surge by the time the market crashed, ETC spiraled down even before Coronavirus knocked on our doors. By that time, the price of the Ethereum classic had a hard time breaching the resistance at $8.5.

After the crash, it found itself right where it started at the start of January which is the $4 level. For the rest of March and April, ETC grew and in May climbed back to $7. However, this level became a strong resistance that it was not breached yet but the price was kept down by this resistance throughout June and May. Considering that the coin made a few attempts to go up, this could be a good chance for traders interested in Ethereum Classic, to acquire it.