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- 1 The ETC crypto currently trades at $23.56 with a slight positive intraday development of 0.31%.
- 2 The ETC/USD chart technical outlook shows that the price bounced back after retracing from the 50-day EMA.
The Ethereum Classic price stays defensive near the $20 level on Monday. The buyers are struggling hard to hold the price above the 50-day EMA after a sharp fall in a couple of weeks.
On a 4 hour chart, it was observed that the ETC crypto price currently stays near the 20- day EMA and is trying to create a base. The crypto experienced a rise in buying volume in the past two sessions which helped the price survive above the 50 day EMA and stay within positive territory.
However, ETC started the day recording a slight negative development in the morning session. However, this was later altered by the buyers and currently, the crypto trades with a slight positive bias.
At the time of writing, the Ethereum Classic price was at $23.56 with an intraday rise of 0.31%. It ranks 24th in terms of market capitalization with a live market cap of $3.42 Billion. It has a 24-hour trading volume of $159.693 Million with a 1.84% drop as compared to yesterday.
Ethereum Classic Price Technical Analysis
Despite registering a nearly 20% fall in the past couple of weeks, the broader term outlook for the ETC crypto remains on the positive side. The price still hovers above the recent swing high and the 200 day EMA on the daily chart, showing signs of a positive bias.
Moreover, the price performance of the ETC crypto shows that it registered a loss of nearly 4% in the past week. Additionally, the recent price drop has erased nearly all of the previous months’ gains, leaving only a slight 4% gain. However, the past three-month performance is still outstanding with a gain of over 40%.
Moreover, the recent price drop in the last couple of weeks has dragged the price near the previous breakout zone and the 50-day EMA. The selling pressure has halted near the 50-day EMA and the price has experienced rejections from the lower levels, indicating the presence of buyers at these lower levels.
Now, if the crypto continues to receive buying volume inflow and challenges upper levels, it may again resume to form bullish price action and retrace toward the upper supply zones.
On the other hand, if buyers fail to counter sellers and the price breaks below the 50-day EMA, it may lead to more downward movements to the lower support levels of $20 and the 200-day EMA.
Ethereum Classic Price Prediction January 2024
The most optimistic view of analysts assumes that the price may attain a high of $25.34 by the end of January 2024. However, the pessimistic view of analysts predict that the price may slide near the recent support levels of $22.8.
Ethereum Classic Price Prediction 2024
The price forecast for the year 2024 is that the ETC token price could reach a high of $41.45, suggesting a potential gain of nearly 74%. On the other hand, the bearish outlook of the analysts predict that the price could reach $33.46 by the end of the year.
Ethereum Classic Price Prediction 2025
By the year 2025, the Ethereum Classic price may attain $53.90 on the upper end. On the flip side, the minimum price up to which the crypto price may rise by the year 2025 is $41.77.
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.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
