Ethereum Classic (ETC) Price Prediction 2024-2030: Will ETC Price Hit $50 Soon?

• Bullish Ethereum Classic (ETC) price prediction ranges from $39 to $80.
• Analysis suggests that the Ethereum Classic price might reach above $45.
• The Ethereum Classic bearish market price prediction for 2024 is $18.

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

Ethereum Classic (ETC) Current Market Status

The maximum supply of Ethereum Classic (ETC) is 210,700,000 ETC, while its circulating supply is 145,315,101 ETC, according to CoinMarketCap. At the time of writing, Ethereum Classic is trading at $25.09 representing a 24-hour decrease of 0.38%. The trading volume of Ethereum Classic in the past 24 hours is $497,522,821 which represents a 74.94% increase.

Some top cryptocurrency exchanges for trading Ethereum Classic are Binance, OKEx, and Huobi Global.

Now that you know Ethereum Classic and its current market status, we shall discuss the price analysis of  Ethereum Classic (ETC) for 2024.

Ethereum Classic (ETC) Price Analysis 2024

Will the Ethereum Classic blockchain’s most recent improvements, additions, and modifications help its price rise? Moreover, will the changes in the payment and crypto industry affect ETC’s sentiment over time? Read more to find out about Ethereum Classic’s 2024 price analysis.

Ethereum Classic  (ETC) Price Analysis – Bollinger Bands

The Bollinger bands are a type of price envelope developed by John Bollinger. It gives a range with an upper and lower limit for the price to fluctuate. The Bollinger bands work on the principle of standard deviation and period (time). 

The upper band as shown in the chart is calculated by adding two times the standard deviation to the Simple Moving Average while the lower band is calculated by subtracting two times the standard deviation from the Simple Moving Average.

The above chart shows a few highlights of Ethereum Classic. The red rectangles signify instances where the bands expand and contract. When the bands widen, the price of ETC could rise or fall by a large margin and when the bands contract, the price is bound to move sideways. 

The green rectangles highlight occasions where ETC either tested the upper or lower band for a few days. When ETC touches the upper band, it is because there is more buying pressure and when it touches the lower band, it is because more traders are selling than buying ETC. 

Currently, the Bollinger bands have widened, and ETC has been just below the SMA for a few days. However, when considering the lows, ETC has been making higher lows when following the SMA. As ETC is now almost intersecting the SMA, there could be a crossover into the upper half of the Bollinger band shortly.  

The above chart uses the Bollinger bands with different deviations. The red highlighted area shows the overbought areas where ETC could have strayed while the green patch shows the oversold areas where ETC could have gone to. Since ETC has retraced after touching the upper band, there could be another attempt where ETC tries to reach the upper band again. The above thesis could be supplemented by the Bollinger bandwidth percentile (BBWP).

Since the Bollinger bandwidth percentile reads a value of 55%, there is a high chance that the bands could widen further and ETC could gain more value. 

Ethereum Classic (ETC) Price Analysis – Relative Strength Index 

The Relative Strength Index is an indicator that is used to measure whether the price of a cryptocurrency is over or undervalued. For this purpose, it has two extreme regions known as the overbought and oversold regions. 

When the RSI reads a value (>70) then the crypto is overbought, which means that due to more buying the demand has increased as such the price has also increased. On the other hand, when it is oversold, many are selling, as such, its price is undervalued.

The above chart shows the RSI reads a value of 57 and the line has just crossed above the signal line. This shows that ETC is performing above average. Moreover, the dotted lines show a divergence. In particular, when the ETC was making higher lows, the RSI was making lower lows. This is a bearish divergence. Despite this divergence, ETC spiked.

The red and green lines show the resistance and support levels respectively of the RSI bands. During the uptrend that started back in mid-October 2023, ETC tested the resistance level on multiple occasions and retraced. Since ETC is currently on the rise, this could be another occasion where it reaches this resistance level. 

The Cyclic RSI used at the bottom of the chart reads a value of 56 and the line is heading towards the upper band. This behavior supplements ETC’s motion upwards. Meanwhile, the lower band which is supposed to be at around 30 and below is at 41, this denotes that the Ethereum Classic is on an uptrend as buyers are pushing its lows higher. 

Ethereum Classic (ETC) Price Analysis – Moving Average Convergence and Divergence (MACD) 

The Moving Average Convergence and Divergence indicators use two exponential moving averages (ema)  to find how the cryptocurrency is doing. Usually, the longer EMA is the 26-Day EMA and the shorter is the 12-Day EMA. The MACD is found by reducing the 12-day EMA from the 26-day EMA. If the MACD is positive that means the crypto is performing but if it’s negative, then it is losing value.

The above chart shows two scenarios where the MACD was positive and negative. The highlighted section on the left is an instance where the MACD was negative. When there is a negative value for MACD, it means that the 12-day EMA is less than the 26-day EMA. This shows that ETC is losing value. The highlighted section on the right shows that the MACD is positive. This shows that the 12-EMA is greater than the 26-day EMA and therefore ETC is gaining value. 

The above chart is a comparison of MACD with the Volume Weight MACD (VWMACD). MACD is just the difference between two exponential moving averages while the volume weight MACD brings another parameter, which is volume, into consideration. The above chart shows a divergence when comparing VWMACD with the MACD. The VWMACD made lower highs when the MACD was making higher highs. This shows that although ETC was gaining value, the volume or the trading of ETC was reducing. Currently, the VWMACD has turned in the positive direction, and the MACD is also heading upwards. This shows that at this price, there could be an increase in trading activity. Hence, when the demand increases, there could be price gains for the Ethereum Classic. 

Ethereum Classic (ETC) Price Prediction 2024-2030 Overview

Ethereum Classic (ETC) Price Prediction 2024

 The above chart shows that Ethereum Classic has been following the Wyckoff pattern since August 2022. Phase A of the Wyckoff pattern shows ETC’s downtrend where it searches for a support level. Initially, ETC meets its preliminary support level at $27, however, this support is too weak to bring the downtrend to a halt. Hence, the prices drop further. 

This is where the selling climax happens. At this juncture, the panicky and heavy selling is absorbed by large institutions. And when the selling pressure reduces there is an “automatic rally” and the Wyckoff enters Phase B. 

In Wyckoffian analysis, Phase B serves the function of “building a cause” for an uptrend. In this phase, large institutions keep buying the token at low prices expecting a swing high. This phase could take a long time (around a year). During the initial stages of this phase, there could be higher volume and more amplitude in price but both these parameters diminish as institutions absorb the supply. 

With the remaining supply, the smart money operators decide whether the stock is ready for a markup. This is the beginning of phase C. At this phase, the prices fall below the usual support, which makes the traders think it is a downtrend, however, this is not the case. It’s a bear trap where the prices fall below the support and quickly bounce back into the trading range. This is the beginning of an uptrend. 

Then comes phase D where the demand exceeds the supply and this could with wider price fluctuations and increasing volumes. Usually, the price will move towards the top of the trading range in this phase. Further, there will also be action at the last point of support, since it’s an excellent entry point for those going long. 

Currently, ETC is in the last phase (Phase E). In this phase demand will be in total control of the market. There will be new higher-level trading ranges comprising both profit-taking and acquisition of additional shares (“re-accumulation”) by large operators can occur at any point.

ETC is rising towards the preliminary support, and there is a high chance that it could break above it. However, there is a chance that ETC could retrace toward the preliminary support before it starts to spike toward $45 completing the Wyckoff pattern. However, if the price falls below the $18 level, the Wyckoff pattern could likely be dismantled.

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

The above chart shows the resistance and support levels based on the price fluctuations. The green lines show the resistance levels while the red lines show the support levels. The thin lines are the diagonal resistance and support levels. Currently, it could be seen that ETC is heading towards Resistance 1 at $45 diagonally. 

When it reaches this resistance level, there is a chance that it could be rejected there. If the above mentioned happens then ETC could look for support at support 1. However, the question is, will ETC fall back and look for support in a market that is excited about BTC halving?

The above chart shows the recent diagonal price action of ETC. The token fell along the 1:3 Gann line back in November 2022. This fall was followed by a period of lateral movement. Since October 2023, ETC started an uptrend. Currently,  it is being supported by the 2:1 Gann line and there is a high chance that it could test the 1:1 Gann line. 

Ethereum Classic (ETC) Price Prediction 2025

Ethereum Classic may experience the after-effects of the Bitcoin halving and is expected to trade much higher than its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, Ethereum Classic will continue to rise in 2025 forming new resistance levels. It is expected that Ethereum Classic (ETC) will trade beyond the $250 level.

Ethereum Classic (ETC) Price Prediction 2026

It is expected that after a long period of bull run, the bears will come into power and start negatively impacting the cryptocurrencies. During this bearish sentiment, the Ethereum Classic could tumble into its support regions. During this period of price correction, Ethereum Classic could lose momentum and be way below its 2025 price. As such, it could be trading at $94 by 2026. 

Ethereum Classic (ETC) Price Prediction 2027

Naturally, traders expect a bullish market sentiment after the crypto industry was affected negatively by the bears’ claw. Moreover, the build-up to the next Bitcoin halving in 2028 could evoke excitement in traders. However, there’ll be a dip in price before the excitement will be reciprocated in ETC. As such, we could expect Ethereum Classic (ETC) to trade at around $130 by the end of 2027. 

Ethereum Classic (ETC) Price Prediction 2028

As the crypto community’s hope will be re-ignited looking forward to Bitcoin halving like many altcoins, Ethereum Classic may reciprocate its past behavior during the BTC halving. Hence, Ethereum Classic (ETC) would be trading at $185 after experiencing a considerable surge by the end of 2028. 

Ethereum Classic (ETC) Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market will gradually become stable by this year. In tandem with the stable market sentiment, Ethereum Classic (ETC) could be trading at $370 by the end of 2029.

Ethereum Classic (ETC) Price Prediction 2030

After witnessing a bullish run in the market, Ethereum Classic and many altcoins would show signs of consolidation and might trade sideways and move downwards for some time while experiencing minor spikes. Therefore, by the end of 2030, Ethereum Classic (ETC) could be trading at $310.

Ethereum Classic (ETC) Price Prediction 2040

The long-term forecast for Ethereum Classic indicates that this altcoin could reach a new all-time high(ATH). This would be one of the key moments as HODLERS may expect to sell some of their Coins at the ATH point. 

If they start selling then Ethereum Classic could fall in value. It is expected that the average price of Ethereum Classic (ETC) could reach $800 by 2040.

Ethereum Classic (ETC) Price Prediction 2050

Since Cryptocurrency will be revered and widely accepted by most people during the 2050s, we will see the masses believe more in it. As such Ethereum Classic (ETC) could reach $1,800.

Conclusion

If investors continue showing their interest in Ethereum Classic and add these Coins to their portfolio, it could continue to rise. ETC’s bullish price prediction shows that it could reach the $45 level.

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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