2021-07-07 12:50:00

Ethereum Vs. Ethereum Classic: Which Crypto Performed Better In June?

Ethereum (CRYPTO:ETH) and Ethereum Classic (CRYPTO:ETC) are two cryptocurrencies that run on the Ethereum blockchain.

Ethereum Classic is the original version of Ethereum that executed smart contracts with a Proof-Of-Work platform. Ethereum later changed to a Proof-Of-Stake platform after there was a hack on the platform.

Ethereum Daily Chart Analysis

  • Ethereum has been trading along the higher low trendline and could breakout if it can cross above resistance.
  • Ethereum is trading below the 50-day moving average (green) but above the 200-day moving average (blue), indicating the crypto is likely in a period of consolidation.
  • The 50-day moving average may act as resistance while the 200-day moving average may hold as a support level.

Key Ethereum Levels To Watch

  • Ethereum has been able to hold the higher low trendline throughout the past few months; if it continues to hold this line, it may eventually see another breakout.
  • The crypto is showing some resistance near the $3,000 level as this area was rejected multiple times in the past.
  • The Relative Strength Index (RSI) has started to move back up once again re-crossing above the 50 level. This indicates there are now more buyers than sellers in Ethereum once again.

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 low trendline and start heading higher.
  • Ethereum Classic is trading below the 50-day moving average (green) but above the 200-day moving average (blue), indicating there is likely a period of consolidation happening.
  • The 50-day moving average may act as resistance while the 200-day moving average may hold as a support level.

Key Ethereum Classic Levels To Watch

  • Ethereum Classic broke below the $80 level, bounced, and then was unable to cross above the $80 level once again. Now this area may act as resistance once again.
  • An old resistance level of $40 later became support after the crypto was able to bounce near this level. Recently, Ethereum Classic was able to bounce near the $40 as this level and the higher low trendline were both near this area creating what technical traders might call an area of doubled support.
  • The RSI on Ethereum Classic has also started rising and was able to cross back above the 50 level. The RSI now sits at 51, meaning there are slightly more buyers than sellers in the crypto.

Ethereum VS Ethereum Classic In June

Ethereum opened 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 the month of June.

Ethereum Classic opened June 1 at a price of $70.11 and closed on June 30 at a price of $57.50, showing a loss of 17.98% for the month of June.

The above calculations show that both cryptos lost ground throughout the month of June, but Ethereum would have lost less of a percentage for holders.

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