Bitcoin holds $21,500;Ethereum Classic Update

Following a sharp drop into the last week of trading the price of bitcoin and ether moved with a slight incline. With the help of the US Fed The Merge”” in Ethereum is awaited by crypto traders.
Ethereum increased by more than 3 percent while Solana gained 2 percent. Ethereum  Classic also increase 3 to 5 percent.

cryptocurrency Marketcap

The world’s cryptocurrency market was trading around the $1.04 trillion mark, increasing approximately 2 percent over the past 24 hours. But, the overall trading volume fell more than 7 percent around $65.46 ..

Expert Take
Responding to RBI Governor’s remarks about cryptocurrency, Edul Patel, CEO and co-founder Mudrex, CEO and co-founder Mudrex stated that the RBI’s position on cryptocurrency has always been somewhat rigid until 2018. But cryptos can be a great way of providing a more transparent and secure environment for transactions made using blockchain, he claimed.

“It can assist small investors in making transactions that have low fees and in a secure way. Cryptocurrencies are a great way of diversifying portfolios away from traditional investments.Tech View by Giottus Crypto Platform
ETC is the token of origin that is part of Ethereum Classic, Ethereum’s hard fork that uses smart contracts as a platform to run and provide support for decentralized applications that run on its network. ETC has a current price of $36.2 which is up 8percent in the past 24 hours. Ethereum’s planned Merge is believed to have revived the enthusiasm for ETC as a possible alternative to miners.

After breaking through the trendline resistance that was downwards in August and hitting an all-time high in the region of $45.68, ETC started creating lower highs. It fell below the trendline in a dramatic decline, but it has since turned the trendline resistance to support. However, it is still far from reaching its highs in August.

While the outlook for ETC appears to be improving however, an obvious sign of a trend change is not present. It has to break through the psychological barrier of $37 in order to build momentum. The next level of resistance is the .618 fib threshold at $40, even though the technical indicators show an neutral-to-buy signal. If the market is in the midst of a decline in the market, it is the .236 levels of t.6he fib of $34.6 is the immediate support.

Major levels
Resistance: $37.0, $40.0
Support: $34, $31.0

Conclusion

Bitcoin holds 21500 to 20500 level as a support. Etherum also as well its support level 1500 to 1550  and Etherum classic levels

Resistance: $37.0, $40.0
Support: $34, $31.0

How high can ETC go?

Ethereum Classic price predictions

First, CryptoNewsZ provides revealed an Ethereum Classic price forecast for 2022, which suggests the currency has possibly already reached the $42 price mark it was expected to hit in the year. The prediction for 2023 is that the website claimed that ETC could hit $50 before eventually climbing to $51.

Why is Ethereum Classic so cheap?

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