Ethereum Classic Dropped -8.24% in Last Month and is Predicted to Reach $29.33 By Feb 17, 2024

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Ethereum Classic is up 3.28% today against the US Dollar
• Ethereum Classic is currently trading 9.00% below our prediction on Feb 17, 2024
• Ethereum Classic dropped -8.24% in the last month and is up 24.31% since 1 year ago

ETC price is expected to rise by 11.35% in the next 5 days according to our Ethereum Classic price prediction

Ethereum Classic price today is trading at $ 26.69 after gaining 3.28% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 2.73% in the same time period. ETC performed poorly against BTC today and recorded a -0.29% loss against the world’s largest cryptocurrency.

According to our Ethereum Classic price prediction, ETC is expected to reach a price of $ 29.33 by Feb 17, 2024. This would represent a 11.35% price increase for ETC in the next 5 days.

ETC Price Prediction Chart

Buy/Sell Ethereum Classic

What has been going on with Ethereum Classic in the last 30 days

Ethereum Classic has been displaying a negative trend recently, as the coin lost -8.24% in the last 30-days. The medium-term trend for Ethereum Classic has been bullish, with ETC increasing by 35.38% in the last 3 months. The long-term picture for Ethereum Classic has been positive, as ETC is currently displaying a 24.31% 1-year price change. On this day last year, ETC was trading at $ 21.47.

Ethereum Classic reached its all-time high price on May 06, 2021, when the price of ETC peaked at $ 165.75. The current ETC cycle high is $ 45.11, while the cycle low is at $ 12.63. ETC has been displaying low volatility recently – the 1-month volatility of the coin is at 6.49. Ethereum Classic recorded 16 green days in the last 30 days.

Ethereum Classic technical analysis for today – Feb 12, 2024

The sentiment in the Ethereum Classic markets is currently Bullish, and the Fear & Greed index is reading Greed. The most important support levels to watch are $ 25.58, $ 25.23 and $ 24.85, while $ 26.31, $ 26.69 and $ 27.04 are the key resistance levels.

Bullish sentiment for Ethereum Classic

26 indicators are currently signaling a bullish prediction for Ethereum Classic, while 5 indicators are showing a bearish forecast. With 84% of indicators favoring a positive prediction. This results in an overall Bullish sentiment for Ethereum Classic.

Crypto market is currently experiencing Greed

Currently, the Fear & Greed index is at 70 (Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Ethereum Classic moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Ethereum Classic is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Ethereum Classic is at 57.54, suggesting that ETC is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Ethereum Classic over the last 50 days. Currently, Ethereum Classic is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the ETC closing price for the last 200 days. ETC is now trading below the SMA 200, signaling that the market is currently bearish.

The bottom line about this Ethereum Classic prediction

After considering the above factors, we can conclude that the current forecast for Ethereum Classic price prediction is Bullish. ETC would have to increase by 11.35% to hit our $ 29.33 target within the next five days. Moving forward, it will be important to monitor the ETC market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Ethereum Classic price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.