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Ethereum, Ethereum Classic Price Analysis: Clearing the Decks



Ethereum Price

In our analysis yesterday, we suggested that some coins were on a roller coaster while others were falling down an elevator shaft.

Based on what we saw last night, it would appear as though Ethereum price and Ethereum Classic price are both hurtling down that shaft in search of the basement floor. But keep an eye on this. That sort of dynamic can change in a heartbeat.

Ethereum (ETH)

Price Analysis

  • High: $284
  • Low: $250.84
  • 24-Hour Volume: $1.98B
  • 7-day Percent Change: -34.72%

Ethereum (ETH) has been a poster boy of underperformance, barely flinching to the upside during the cryptocurrency asset class-wide bounce during the month of July, and then rolling through a sloped support level without a blink after rubbing off a declining 50-day simple moving average.

That is led to a steady downward trend in ETH, which in turn led to a break of the coin’s April lows. Now, we are in search of more important lows, and last night’s action may be starting to probe the areas we want to see.

Most importantly, with the 14-day RSI measure already signaling massive oversold extremes, we have to look at the $275 level as potentially a key line in the sand for Ethereum (ETH).

Ethereum Classic (ETC)

Price Analysis

  • High: $11.9516
  • Low: $10.1156
  • 24-Hour Volume: $264.49M
  • 7-day Percent Change: -43.51%

Ethereum Classic (ETC) is an interesting case. It was only a week ago that everyone on the planet was touting this as the coin that would avoid this leg of the bear market.

But, as we discussed in some of our analysis, headline-driven rallies are not secure during bear market contexts. And that’s exactly what we saw with Ethereum Classic (ETC).

It was rallying a few days ago because the coin had been picked up by some major exchanges. But that’s exactly the kind of catalyst that can lead to a quick “suck them in and spit them out” kind of bear market rally, destined to roll over and wield severe pain for those sucked in at the highs.

Ethereum Classic (ETC) powered itself higher during that news-inspired craze, only to be rebuffed by resistance at a declining 200-day simple moving average in confluence with the $20 level.

At this point, all eyes are on the support between $9.50 and $10.00.

Happy Trading~

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors




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While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

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CoinFlip Scores Big with BRD Wallet Partnership




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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity



collateralized debt position

While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

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The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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