ETC price prediction for 2024 stays bullish and suggests ETC crypto may outperform in the coming months. It took support near $14.50 and began to recover by forming higher high swings.
Ethereum Classic price broke out of the $18.00 hurdle with massive buying volume, triggering positive sentiments and creating a hope for hitting new swing highs.
However, ETC crypto price lacked bullish momentum near $22.00 and witnessed minor profit booking. Buyers failed to show follow up momentum and slowly reversed down to test the breakout level.
Meanwhile, the 50 day EMA and 200 day EMA are reversing upward and may generate a positive crossover. Therefore, if the ETC price retrace down then EMA may act as a strong support for the bulls.
The sudden rise in buying volume and decent recovery in the price showcases that some big players have taken longs. So, the recent up move in ETC crypto looks strong and investors expect that price will hold the $18.00 level.
The chart pattern of the Ethereum Classic crypto is mildly bullish and buyers look more active as compared to sellers. Therefore, it’s better to play long bets and stay with the trend.
Will $22 Breakout in ETC Price Trigger a Rally?
ETC price prediction showcases the recovery will continue in the coming months and a new swing high may be visible.
At present, Ethereum Classic price is trying to break out of the $22.00 hurdle. If the buyers succeed to push the price above $22.00, then a sharp rise toward $25.00 is possible.
On the other hand, if the price faces rejection then it may continue to consolidate in the existing range.
Previously, in 2023, buyers tried multiple times to break the $22.00 barrier. But every attempt failed and prices reversed down. It shows the $20.00 to $23.00 is the supply zone. Bulls need to take out this zone to begin the journey to reach $30.00.
Ethereum Classic Price is Near to Supply Zone
Ethereum Classic price is forming a bearish candle. However, in the last four weeks, ETC price showed an uptick and challenged the sellers in the supply zone.
The price action suggests that, after a few weeks of consolidation, prices will regain momentum and attempt to break $22.00.
The MACD curve is reversing down and RSI cooling off from the overbought territory indicating sign of the consolidation. Therefore, investors should be patient and stay invested.
Conclusion
ETC price prediction for 2024 is favoring the bulls and suggests a new swing high may be visible soon. However, Ethereum Classic price will gain momentum when it succeeds to break the $22.00 hurdle. The analysis suggests bulls are active in ETC so the probability of the breakout remains high.
Technical levels
- Resistance levels: $23.32 and $27.13
- Support levels: $17.66 and $14.43
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/11/19/etc-price-prediction-2024-will-etc-crypto-price-fly-to-30/