Crypto: Ethereum Vs. Ethereum Classic, Which Performed Best in June? | The Pose

✍ July 8, 2021 – 06:29

Ethereum (ETH) y Ethereum Classic (ETC) are two cryptocurrencies that run on the blockchain Ethereum.

Related Content: Crypto: Ethereum Beats Bitcoin in USD Share

Ethereum Classic is the original version of Ethereum that ran smart contracts with a platform Proof-Of-Work (POW). Subsequently, Ethereum switched to a platform Proof-Of-Stake (POS) after suffering a breach by hackers.

Ethereum daily chart analysis

  • The crypto asset has been trading along the higher downtrend line and could break out if it succeeds in crossing above resistance.
  • Ethereum is trading below the 50-day moving average (green) but above the 200-day moving average (blue), indicating that the coin is likely in a consolidation period.
  • The 50-day moving average can act as resistance, while the 200-day moving average can hold as a support level.

Key Ethereum levels to watch out for

  • Ethereum has been able to hold the highest downtrend line for the past few months; If you continue to hold this line, you could eventually see another breakout.
  • The cryptocurrency shows some resistance near $ 3,000, as this level was rejected several times in the past.
  • The Relative Strength Index (RSI) has started to rise once again, crossing back above the 50 level. This indicates that now, once again, there are more buyers than sellers on Ethereum.

etcdaily7-6-21.png

Ethereum Classic daily chart analysis

  • The Ethereum Classic chart looks similar to the Ethereum chart, as the stock was able to find support near the higher downtrend line and start to rise.
  • ETC is trading below the 50-day moving average (green) but above the 200-day moving average (blue), indicating that a consolidation period is likely taking place.
  • The 50-day moving average can act as resistance, while the 200-day moving average can hold as a support level.

Related Content: Crypto: What’s Happening With Ethereum Today?

Ethereum Classic key levels to watch out for

  • Ethereum Classic broke below the $ 80 level, bounced, and then failed to cross above this figure again. Now this area can act as resistance again.
  • A former resistance level of $ 40 later turned into support after the cryptocurrency managed to rally near this figure. Recently, Ethereum Classic has been able to bounce near $ 40, as this level and the higher low trend line were near this area, creating what technical traders might call a doubling support area.
  • The RSI on Ethereum Classic also started to rise and was able to cross back above the 50 level. This index now sits at 51, which means that there are slightly more buyers than sellers on the digital asset.

Ethereum Vs. Ethereum Classic

Ethereum opened on June 1 at a price of $ 2,705.72 and closed on June 30 at a price of $ 2,276.34, showing a loss of 15.87% for that month.

ETC opened on June 1 at a price of USD 70.11 and closed on June 30 at USD 57.50, indicating a loss of 17.98% for the month of June.

Previous calculations show that both cryptocurrencies lost ground during the month of June, but Ethereum would have lost less percentage for investors.

Via Benzinga in Spanish

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Crypto: Ethereum Vs. Ethereum Classic, Which Performed Best in June? | The Pose

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