Since its launch in 2015, Bitcoin has grown to become one of the most popular and valuable cryptocurrencies in the world. However, there is a growing trend among investors to bet on alternative digital currencies. This is because the market has been plagued by high volatility, with ever-changing prices and unpredictable market behaviour. As a result, investors are turning to the digital currency Ethereum Classic (ETC) as an alternative investment. After all, unlike Bitcoin, Ethereum Classic is a currency that has retained its value throughout its tenure.
Ethereum Classic is a cryptocurrency based on the Ethereum blockchain that aims to bring back the original “Ethereum” blockchain that was hacked by a malicious actor in July of 2016. Ethereum Classic aims to make changes to Ethereum so that the blockchain remains decentralized, immutable, and censorship-resistant. In this post, we will learn what the future of Ethereum Classic looks like and will try to predict it’s price in the future using technical analysis.
ETC was designed to be a more decentralized and immutable version of Ethereum. However, Ethereum has slowly been moving in this direction as well; it has been introducing new features and platforms that interact with Ethereum Classic in a different way, which has caused some to deem it to be Ethereum 2.0. How well will these changes affect ETC’s price?. Read more about ethereum classic price prediction 2025 and let us know what you think.
- The range of bullish ETC price predictions is $83 to 173.
- The price of ETC may soon exceed $350.
- For 2023, the ETC pessimistic market price forecast is $24.5.
We utilize data, price patterns, RSI, and other information about Ethereum Classic (ETC) to evaluate the cryptocurrency’s future movement in Ethereum Classic (ETC) price forecast 2023.
Ethereum Classic (ETC) is a hard fork of Ethereum (ETH) that was released in July 2016. Its primary use is as a smart contract network that can enable decentralized apps (DApps). In addition, ETC is the native token.
Since its inception, Ethereum Classic has worked to set itself apart from Ethereum, with the two networks’ development roadmaps diverging more and more over time. Furthermore, ETC was created to protect the current ETH blockchain after a massive hacking incident resulted in the loss of 3.6 million ETH.
At the time of writing, the Ethereum Classic price was $59.47, with a 24-hour trading volume of $3,481,596,137, according to CoinGecko. ETC, on the other hand, has risen by 1.8 percent in the past 24 hours.
Furthermore, there are 127,902,707 ETC in circulation. ETC is currently traded on Binance, Huobi Global, OKEx, ZG.com, and CoinTiger, among other cryptocurrency exchanges.
Predictions for the price of Ethereum Classic ETC in 2023
On CoinGecko, Ethereum Classic (ETC) is now ranked 21st. The price of ETC in 2023 is forecasted in three time periods.
Time Period: Monthly
The Ethereum Classic (ETC) monthly time period chart is given below.
Monthly Time Frame ETC/USDT Price Chart (Source: TradingView)
Monthly charts typically show a succession of data points, each of which represents the price change for a particular month of trade. Furthermore, traders have been using this chart style for a long time, but it is only suitable for long-term trading.
Let’s have a look at the support and resistance levels in different time periods now.
Time Period: Weekly
Below is a weekly time frame chart of the Ethereum Classic (ETC) trend.
Weekly Time Frame ETC/USDT Price Chart (Source: TradingView)
Weekly charts, in particular, are the ideal time period for representing long-term patterns. Each bar on a weekly chart represents one week of price or volume history. This implies that weekly charts may provide a more comprehensive picture of a cryptocurrency’s price history.
Time Period: Every Day
Below is a daily time frame chart of the Ethereum Classic (ETC) trend.
Daily Time Frame ETC/USDT Price Chart (Source: TradingView)
The daily period, often known as daily bars, refers to how the chart is set up such that each bar represents one day’s worth of trading activity. From all three time periods, it is apparent that the resistance and support levels for ETC are as follows.
- $173.6 is the first level of resistance.
- Level 2 Resistance – $83.50
- $47.5 for Level 1 Support
- $24.5 for Level 2 Support
- Level 3 Support – $12.65
Overall, the charts above show that ETC’s bullish trend is continuing and that tremendous heights are conceivable. Furthermore, the data indicate that ETC has been trending upwards for the last month. If the current trend continues, ETC may join the bulls and break over the $173.6 resistance mark.
In the event that investors turn against cryptocurrency, the price of ETC may fall to almost $12.65, indicating a negative warning.
Relative Strength Index for Ethereum Classic (ETC) (RSI)
Let’s take a look at ETC’s relative strength index (RSI). The RSI is still at 45.35, as seen in the chart below. This indicates that the price of ETC is neither overbought nor oversold. Investors, on the other hand, may trade without worry.
RSI ETC/USDT (Source: TradingView)
Since the beginning of 2023, there have been many positive movements in the ETC price. Furthermore, if all of these factors are taken into consideration, ETC may have a competitive market in 2023.
Conclusion
The ETC is one of the cryptos that has managed to hold its ground in a negative market. Our long-term ETC price forecast for 2023 is also optimistic. This year, it has a good chance of surpassing its current all-time high (ATH) of $176. However, this will only happen if it overcomes a number of previous psychological barriers.
Furthermore, the ETC ecosystem may have a bright future ahead of it in 2023, thanks to continuous improvements and enhancements. If investors have anticipated that ETC is a smart investment in 2023, it may hit $173.6 shortly, and it may even achieve great heights, reaching $250.
Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.
Articles to Consider
Etherum Classic Price will go up against Bitcoin by the end of this year and the cryptocurrency is predicted to increase in price by over 300% year to year and it is expected to increase by 30% on average for next year. (Ethereum Classic price prediction for next year). Read more about etc price prediction end of 2023 and let us know what you think.
The price of ETC will not go up in 2023."}},{"@type":"Question","name":"Does ethereum classic reach 100?","acceptedAnswer":{"@type":"Answer","text":"
Ethereum Classic (ETC) is currently trading at $15.00, which means it has reached 100%."}},{"@type":"Question","name":"","acceptedAnswer":{"@type":"Answer","text":""}}]}
Frequently Asked Questions
Will ETC price go up 2023?
The price of ETC will not go up in 2023.
Does ethereum classic reach 100?
Ethereum Classic (ETC) is currently trading at $15.00, which means it has reached 100%.
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