Will ETC reach $35 Soon?

• Bullish ETC price prediction ranges from $18 to $50
• ETC price might also reach $35 this 2023.
• ETC’s bearish market price prediction for 2023 is $14.08.

What is Ethereum Classic (ETC)?

Ethereum Classic (ETC) is a cryptocurrency that was created in 2016 as a result of a hard fork of the original Ethereum blockchain. The fork was initiated due to a disagreement among members of the Ethereum community over how to handle a security breach on the network. As a result, some members decided to split off and continue to support the original Ethereum blockchain, which became known as Ethereum Classic.

Similar to Ethereum, Ethereum Classic is a decentralized, open-source blockchain platform that enables the creation and execution of smart contracts and decentralized applications (DApps). It is based on the same technology as Ethereum, which is the Ethereum Virtual Machine (EVM).

One of the main differences between Ethereum Classic and Ethereum is the approach to governance. Ethereum Classic follows a more decentralized approach, where decisions are made through a community-driven process. In contrast, Ethereum is guided by a foundation and a team of developers.

ETC is mined through the proof-of-work consensus algorithm, which is the same mechanism used by Bitcoin. This means that miners compete to solve complex mathematical problems to validate transactions and receive a reward ETC.

ETC has experienced several price fluctuations since its inception, with highs and lows in response to market demand and external factors. As of March 2023, ETC has a market capitalization of approximately $2 billion and a circulating supply of over 130 million tokens.

Despite facing some challenges and controversies in the past, Ethereum Classic continues to attract a community of developers and users who believe in its potential to serve as a reliable and decentralized blockchain platform for DApps and smart contracts.

Ethereum Classic (ETC) Market Overview

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Ethereum Classic (ETC) Current Market Status

The total supply of Ethereum Classic (ETC) at the moment is 210,700,000 ETC while the circulation supply is 140,117,990 ETC. At the time of writing, ETC is trading for $20.03 which represents a 24-hour increase of 0.22%. The trading volume of Ethereum Classic in the past 24 hours is $168,962,171 which represents a 40.79% increase.

Some of the top cryptocurrencies for trading Ethereum Classic (ETC) are Binance, Coinbase, Kucoin, Gate.io, Kraken, Huobi Global, and others.

Now that you have known what Ethereum Classic (ETC) is and its current market status, we shall discuss the price analysis of Ethereum Classic (ETC) for 2023.

Ethereum Classic (ETC) Price Analysis 2023

Currently, ETC is ranked in the 19th position on CoinMarketCap. Will developments and upgrades within the Ethereum Classic blockchain lead to rising in the price of Ethereum Classic (ETC)? We shall see this in this Coin Edition price analysis 2023 article.

Ethereum Classic (ETC) Price Analysis – Keltner Channel

The Keltner Channel is a popular technical analysis tool that traders use to gauge market trends by measuring volatility relative to candlestick patterns. Based on the Keltner Channel signals for Ethereum Classic (ETC), it appears that the current downtrend may soon come to a halt as it approaches the bottom of ETC, which is now on its third touch. However, investors would be wise to exercise patience and wait for a few reversal patterns to emerge before considering entering any trades, as this could offer a better risk-to-reward ratio.

Ethereum Classic (ETC) Price Analysis – Relative Strength Index

The Relative Strength Index (RSI) is a useful tool in technical analysis that can help traders identify oversold or overbought assets by analyzing recent price changes. In the case of Ethereum Classic (ETC), the RSI value on its 1-day chart against USDT currently stands at 49.76. This value could potentially spark a bullish trend, enticing buyers to jump in and capitalize on the expected price hike towards the overbought territory at 70 RSI before an imminent price correction.

Ethereum Classic (ETC) Price Analysis – Moving Averages

The 1Day chart of Ethereum Classic (ETC) displays both the 200-day and 50-day Moving Average (MA) lines, which help us to understand the current market trend. As it stands, ETC is experiencing a bearish trend. This is because the 200-MA is positioned above the 50-MA, indicating that the price is bearish for long-term investors. 

Moreover, the gap between the moving averages is narrowing and is situated above the newly-formed candlesticks. This suggests that the price of ETC could experience a significant surge or decline in the near future. It would be wise for traders to observe the trend and act accordingly, in order to minimize risks and maximize profits.

Ethereum Classic (ETC) Price Prediction 2023

From the chart above, we can observe that the price of Ethereum Classic (ETC) was ranging between its primary resistance and support for a few months. Moreover, it cannot break its strong high position at $24.98 and has been falling since then. Another factor to consider at the moment is that ETC is trading under the 200-day moving average which means that ETC is entirely bearish. 

The price of Ethereum Classic (ETC) is expected to touch the 200-MA before breaking out to a certain side of the resistance or the support. Meanwhile, our long-term ETC price prediction for 2023 is bullish since it might break many psychological resistances. We can expect ETC to reach $34 this year.

Ethereum Classic (ETC) Price Prediction – Resistance and Support Levels

According to the bearish chart analysis, the price of ETC has risen by 1.11% in the last seven days, which could lead to a breakthrough of the resistance level at $24.72. If this trend continues, ETC may reach $27.31 or even higher, signaling a bullish trend for 2023.

However, if sellers manage to assert their influence, ETC’s current uptrend could come to an end. This would cause the price to dip below the support level at $15.55 and potentially even lower, indicating a bearish trend for 2023. In other words, the future of Ethereum Classic’s price movement is uncertain and could go either way depending on market forces.

Despite this uncertainty, traders and investors alike can benefit from closely monitoring ETC’s price movements and making informed decisions based on market data and analysis. With the right strategies and insights, it’s possible to navigate bullish and bearish trends and potentially profit from Ethereum Classic’s market volatility.

Ethereum Classic (ETC) Price Prediction 2024

Specifically, in the first half of 2024, the price of ETC is projected to experience rapid growth, reaching $45 before leveling off in the latter half of the year. While minor fluctuations are expected, no significant drops in price are anticipated.

To further support the price of ETC, investors could consider upgrading staking rewards, which would incentivize them to stake more ETC and reduce its volume in circulation. By doing so, the price of ETC could potentially reach $56 in the near term, providing investors with even greater returns on their investments.

Ethereum Classic (ETC) Price Prediction 2025

Ethereum Classic (ETC) prices might grow past $77 during the next three years. Furthermore, hitting this level might be relatively easy for ETC because new medium, short-term, and long-term price objectives for purchase or sell orders may be discovered. 

Ethereum Classic (ETC) Price Prediction 2026

The price of Ethereum Classic (ETC) is expected to surpass $108 in the coming years, according to market experts. They believe that achieving this target may not be as difficult as initially anticipated since new price objectives for buying and selling orders may emerge in the short, medium, and long term.

Ethereum Classic (ETC) Price Prediction 2027

Ethereum Classic (ETC) prices might grow past $185 during the next five years. Furthermore, hitting this level might be relatively easy for ETC because new medium, short-term, and long-term price objectives for purchase or sell orders may be discovered. According to the forecast, ETC has a strong chance of reaching a new all-time high (ATH) price.

Ethereum Classic (ETC) Price Prediction 2028

In 2028, there will be Bitcoin halving. Hence, the consolidating market in 2027 could be followed by a bullish run. This is due to the impact of news surrounding any year of Bitcoin halving. It is, therefore, possible that the market could attain higher high values. Ethereum Classic (ETC) could hit $263 by the end of 2028. 

Ethereum Classic (ETC) Price Prediction 2029

Ethereum Classic (ETC) prices might grow past $340 during the next seven years. According to the forecast, ETC has a strong chance of reaching a new all-time high (ATH) price.

Ethereum Classic (ETC) Price Prediction 2030

The cryptocurrency market experienced high stability due to the holding activities of early investors so as not to lose future gains in the price of their assets. We could expect the price of Ethereum Classic (ETC) to trade at around $409 by the end of 2030, irrespective of the previously bearish market that followed a market surge in the earlier years.

Ethereum Classic (ETC) Price Prediction 2040

According to our long-term ETC price estimate, ETC prices could reach a new all-time high this year. If the current growth rate continues, we could anticipate an average price of $982 by 2040. If the market turns bullish, the price of ETC could go up beyond what we predicted for 2040.

Ethereum Classic (ETC) Price Prediction 2050

According to our ETC forecast, the average price of ETC in 2050 might be above $2162. If more investors are drawn to ETC between these years, the price of ETC in 2050 could be far higher than our projection.

Conclusion

As said above, Ethereum Classic might reach $35 in 2023 and $409 by 2030 if investors have decided that ETC is a good investment along with mainstream cryptocurrencies like Bitcoin.

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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