In this Ethereum Classic (ETC) price prediction 2024, 2025-2030, we will analyze the price patterns of ETC by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Ethereum Classic (ETC) Current Market Status
What is Ethereum Classic (ETC)
Ethereum Classic (ETC) is the native cryptocurrency that exists on the Ethereum Classic blockchain. Ethereum Classic is an open-source smart contracts-based platform that holds onto the original Ethereum blockchain. This sister chain of Ethereum was launched as a result of a controversial hard fork of Ethereum in July 2016.
Ethereum Classic secures its blockchain through the proof-of-work (PoW) consensus mechanism. It is merely the continuation of the pioneer Ethereum Chain. It allows developers and users to create dApps through lucrative smart contracts.
Ethereum Classic 24H Technicals
Ethereum Classic (ETC) Price Prediction 2024
Ethereum Classic (ETC) ranks 32nd on CoinMarketCap in terms of its market capitalization. The overview of the Ethereum Classic price prediction for 2024 is explained below with a daily time frame.
In the above chart, Ethereum Classic (ETC) laid out a horizontal channel also known as the sideways trend. In general, the horizontal channel is formed during the price consolidation. In this pattern, the upper trendline, the line which connects the highs, and the lower trendline, line which connects the lows, run horizontally parallel and the price action is contained within it.
A horizontal channel is often regarded as one of the suitable patterns for timing the market as the buying and selling points are in consolidation.
At the time of analysis, the price of Ethereum Classic (ETC) was recorded at $17.93. If the pattern trend continues, then the price of ETC might reach the resistance levels of $24.56, $41.47, and $117.25. If the trend reverses, then the price of ETC may fall to the support of $14.87.
Ethereum Classic (ETC) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Ethereum Classic (ETC) in 2024.
From the above chart, we can analyze and identify the following as the resistance and support levels of Ethereum Classic (ETC) for 2024.
Ethereum Classic (ETC) Price Prediction 2024 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Ethereum Classic (ETC) are shown in the chart below.
From the readings on the chart above, we can make the following inferences regarding the current Ethereum Classic (ETC) market in 2024.
Ethereum Classic (ETC) Price Prediction 2024 — ADX, RVI
In the below chart, we analyze the strength and volatility of Ethereum Classic (ETC) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
From the readings on the chart above, we can make the following inferences regarding the price momentum of Ethereum Classic (ETC).
Comparison of ETC with BTC, ETH
Let us now compare the price movements of Ethereum Classic (ETC) with that of Bitcoin (BTC), and Ethereum (ETH).
From the above chart, we can interpret that the price action of ETC is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of ETC also increases or decreases respectively.
Ethereum Classic (ETC) Price Prediction 2025, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Ethereum Classic (ETC) between 2025, 2026, 2027, 2028, 2029, and 2030.
Conclusion
If Ethereum Classic (ETC) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish Ethereum Classic (ETC) price prediction for 2024 is $39.88. Comparatively, the bearish Ethereum Classic (ETC) price prediction for 2024 is $9.46.
If there is a positive elevation in the market momentum and investors’ sentiment, then Ethereum Classic (ETC) might hit $50. Furthermore, with future upgrades and advancements in the Ethereum Classic ecosystem, ETC might surpass its current all-time high (ATH) of $176.16 and mark its new ATH.
This content was originally published by our partners at The News Crypto.