Ethereum Classic (ETC) showed remarkable price movement over the weekend and at the time of writing the article, this asset is still bullish.
Within 24 hours, the ETC recorded a price jump of over 14%, traded at $ 25.22 per unit and sustained a price increase of over 18% since last week.
Based on observations, starting from May 21, the ETC is already up 30% before touching a daily high, $ 25.68 this morning.
What happen?
If investors are looking for the speculation that led to this Ethereum hard fork surge, the answer is no.
Based on the InvestorObserver report on Sunday, the ETC has a normal (neutral) sentiment reading.
But the ETC price movement for now is seen as a bit risky.
According to analysts, while Bitcoin (BTC) is falling in the $ 30,700 - $ 28,700 price zone and the altcoins market is not showing any recovery, there is potential for ETC to face a pullback to the $ 22 level.
However, the ETC has already broken the resistance level - $ 24.4 at the time of this writing. If it is true that there will be a pullback in the near future and this coin touches the $ 21.6 level, it is not impossible that the ETC will be bearish.
Anyway, before making an investment make sure Intraday readers have done some research first. Remember, DYOR or someday you yourself are stuck for buying when the price is high.
