Ethereum Classic (ETC) is a version of Ethereum (ETH) that split from it in 2016 after a hack. It keeps the original Ethereum blockchain without reversing the hack. It acts as a smart contract platform that supports DApps and uses ETC as its token.
Major investors of Ethereum Classic include the CEO of investment firm Greyscale, “Barry Silbert”. ETC network is run by volunteers who do not seek profit. It uses PoW mining and does not plan to switch to PoS, unlike ETH. It also works on scaling and other upgrades.
Ethereum Classic price is on a continuous gain as the price has gained nearly 25% in the past three weeks and is nearing a resistance zone. Bears might dominate and try to push the price down from the trendline resistance.
ETC had a 24-hour trading volume of $208.02 Million with a rise of 70.07% as compared to the previous day. The live market cap of Ethereum Classic is $2.68 Billion and it ranks 28th among the top cryptos. The volume-to-market cap ratio is 7.72% indicating mild volatility in the market.
Ethereum Classic Price Prediction November 2023
The price trend analysis illustrates the formation of an ascending triangle pattern over the daily timeframe. The price bounced back from the horizontal support at $14.67 and surged to reach a trendline resistance that might act as a supply zone.
The breakout above the trendline resistance may unlock upper supply levels and the price may show gains to reach the upper levels. The technical indicators imply that the ETC crypto has surpassed the 50-day and 200-day EMA indicating an optimistic outlook.
The price prediction for November 2023 showcases a neutral to bullish outlook as the price surpassed the 200-day EMA. The price may consolidate or correct until it is maintained below the trendline resistance. On the flip side, the breakout above the trendline resistance may trigger a sharp buying.
Ethereum Classic Price Prediction 2023
The financial year 2023 has seen so many ups and downs that started from the beginning of the year. Despite the prevailing challenges, the crypto markets have managed to make a comeback in the second half. The price is expected to rise in the coming years. The Ethereum Classic crypto price is up 18.34% on a year-to-date basis.
The most optimistic price outlook of the analysts expects the price to surpass an important level of $25 and hover near $27 signifying an upside potential of 46% from the current market price. The minimum price target to which Ethereum Classic crypto may reach is estimated at $20.2 by the end of 2023.
Ethereum Classic Price Prediction 2024
The crypto market may see an advancement in the next year 2024 as many upgrades and innovations are yet to be announced. Cryptos are also expanding their role in various projects, which may improve their price.
As per the analysts, the most optimistic target that the Ethereum Classic price may achieve is $30.56 indicating an upside potential of 65.85% from the CMP. The average analyst price target is $24.1 by the year-end of 2024. However, the pessimistic view of analysts expects the price to reach $21.6.
Ethereum Classic Price Prediction 2025
The most optimistic analyst forecast for Ethereum Classic crypto expects the price to reach a high of $45.2 with a potential gain of 144.9% from the current market price. The minimum forecasted price by the year-end of 2025 is $29.4. The average predicted price till 2025 is $36.5.
Ethereum Classic Price Prediction 2026
The ETC price may reach a high of $56 if a positive trend prevails for the crypto market. On the flip side, the most pessimistic view of the analysts expects the price to reach $43 by 2025.
Ethereum Classic Price Prediction 2027
According to the analysts’ price prediction for the year 2027, the most optimistic view of analysts estimates a price target of $64. The average analyst’s price target is $57 and the minimum price target of analysts is $51.1 by 2027.
Ethereum Classic Price Prediction 2028
Till the year 2028, the crypto markets may get more exposure and have evolved more. On the most optimistic side, the Ethereum Classic price may advance to a high of $78. The price may rise to a minimum of $59 in case of uncertainties.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/11/09/ethereum-classic-price-prediction-2023-to-2028-can-etc-reach-50-by-2025/