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- 1 Ethereum Classic crypto snapped a three-day losing streak and managed to close in green yesterday.
- 2 The buyers are currently trying to hold the price near the 50-Day EMA.
The Ethereum Classic price snapped a continuous three-day fall and witnessed the formation of a green candle on Monday. The price currently trades at $26.41 near the 50-Day EMA on the four-hour chart. The price slumped nearly 12% in the last 3 sessions of the previous week.
Despite losing 12% in the past three sessions, the short term technical outlook for ETC crypto remains constructive as the price jumped off nearly 50% in the last couple of sessions.
The recent price drop in the past three sessions may be grasped as a profit booking after a bullish surge. As observed on a four hour chart, the traders and investors have started accumulating near the 50-Day EMA trying to catch the next momentum.
However, there is some more room for the price to drop more till the previous breakout zone. The price is currently facing a short term pullback which may resume until the price reaches the previous breakout zone near the $23 level.
Safe traders may wait for the correction to end and price to show upside momentum in the lower timeframe.
Ethereum Classic Crypto Price Technical Analysis
The long term trend seems to be super bullish after the recent price hike. The ETC/USD daily chart turned optimistic in early November 2023 and since then it never looked back.
The bulls are continuously riding the trend and as the price is forming a positive trajectory and forming higher lows. The EMAs are acting as support as the price bounces back to reclaim higher swings after tracing the EMAs.
The overall trend is positive at the moment and is expected to resume until the price hovers above the key EMAs. At the time of writing, RSI was at 60.48 points after tracing into an overbought zone. The SMA line was at 56.72 above the mean line suggesting a strong outlook.
Ethereum Classic Price Prediction January 2024
As per the most optimistic view of our analysts, the ETC price could reach a high of $32.22 by the end of the month. The bearish view of the analysts hopes for a breakdown below the recent support, after which the price may drop to a low of $24.16.
Ethereum Classic Price Prediction 2024
The analysts have a wide range of price targets for 2024. The most optimistic view of analysts assumes the ETC crypto could attain a high of $48 suggesting a potential gain of over 83.43%. The lower price target which the crypto could attain as per the analysts is $37.26.
Ethereum Classic Price Prediction 2025
On the most bullish observation, Ethereum Classic crypto could gain to a high of $60.28 in the year 2025. On the flip side, the most pessimistic prediction of our analysts is for the price to reach $43.552.
Ethereum Classic Price Prediction 2026
Looking positively, the Ethereum Classic crypto could reach a high of $77.82 in 2026. On the other hand, the most pessimistic prediction of our analysts is that the price would reach $57.62.
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.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
