Ethereum Classic Price Analysis — May 31

Azeez Mustapha



Select a Plan


 1-month subscription



 3-month subscription



 6-month subscription



 lifetime subscription



 Separate Swing Trading Group



Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored


Service for copy trading. Our Algo automatically opens and closes trades.


The L2T Algo provides highly profitable signals with minimal risk.


24/7 cryptocurrency trading. While you sleep, we trade.


10 minute setup with substantial advantages. The manual is provided with the purchase.


79% Success rate. Our outcomes will excite you.


Up to 70 trades per month. There are more than 5 pairs available.


Monthly subscriptions begin at £58.

Ethereum Classic (ETC) and other cryptocurrencies have had a very rocky price action over the past few weeks following crackdown actions by the Chinese government on the crypto space and Tesla’s decision to stop accepting Bitcoin as payment.

Meanwhile, the United States financial authorities are taking a more active stance in regulating the cryptocurrency industry as concerns for investor protection grows.

The new government stance is a break away from the Trump administration’s, which was generally friendlier to the crypto industry. However, these efforts could take a while to produce meaningful progress as US regulators parse who has the legal authority to oversee this volatile industry.

In a recent interview with the Financial Times, Michael Hsu, the acting Comptroller of the Currency, noted that he is hopeful that the US officials work cohesively to develop a “regulatory perimeter” for cryptocurrencies.

Hsu stated that:

“It really comes down to coordinating across the agencies,” said Hsu, who heads the Treasury Department bureau that oversees national banks. “Just in talking to some of my peers, there is interest in coordinating a lot more of these things.”

The US has organized a meeting of an inter-agency crypto “sprint team,” involving the office of the Comptroller of the Currency, the Federal Reserve, and the Federal Deposit Insurance Corporation.

According to Hsu, the objective of this team is to “put some ideas in front of the agencies to consider” as they try to keep up with the ever-growing crypto industry.

Key Ethereum Classic Levels to Watch — May 31

After breaking out of its recent descent in the previous market crash, Ethereum Classic fell into a prolonged consolidation between $80 and $70. However, after a few days, ETC fell below the consolidation range and entered another consolidation range between $70 and $60.

ETCUSD – Hourly Chart

The cryptocurrency faces the task of climbing back above the 200 SMA at $68.50 over the coming hours. While we could see a modest bullish rally emanate from a break above the 200 SMA line, failure to break would send ETC into more consolidation and lower consolidation areas.

Meanwhile, our resistance levels are $70.00, $75.00, and $80.00, and our support levels are $65.00, $60.00, and $55.00.

Total Market Capitalization: $1.62 trillion

Ethereum Classic Market Capitalization: $7.91 billion

Ethereum Classic Dominance: 0.49%

Market Rank: #19


You can purchase crypto coins here: Buy Coins

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *