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Ethereum Classic is currently trading at $18.63, down 0.05% for the day. $ETC has been trading between $18 and $20 after experiencing a slight price correction this month
Ethereum Classic Price Action and Indicators
Ethereum Classic is currently consolidating, with its price fluctuating between $18.50 and $19.50. The price failed to sustain an upside break around $19.50 resulting in increased volatility.
Immediate support is at $18.50, where $ETC has previously bounced, however, a breakdown below this level may result in more downtrends. The Relative Strength Index (RSI) is at 45.49 down from 52.53 showing that the bullish pressure is diminishing.
Currently the RSI is still slightly below the 50 level, which still remains neutral but it suggests that there is increasing selling pressure. A drop below 40 could signal that $ETC is entering oversold conditions, which might attract buyers.
The MACD is 0.05 below the signal line, which is at 0.10, and this is indicative of a bearish crossover. Though the bearish signal is mild, it suggests growing selling pressure that could accelerate if the price falls below $18.50.
Ethereum Classic ($ETC) May Gain 178% by Late 2024
Some of the forecasts of the price of Ethereum Classic in November 2024 indicate it may rise to $65.19 within the range of $42.76 to $93.90.
The forecast, based on last month’s market performance, suggests that if the market trends positively, it could lead to a significant rally. Looking at December 2024, predictions place $ETC in a trading range between $50.28 and $53.27, resulting in an average price of $51.71.
This would represent a 178.62% increase from current levels, offering investors a potential profit of 187.00% if the prediction holds. Analysts point to a recovery trend that could continue into 2025.
Long-Term Price Predictions Show Potential for Strong Gains
In 2025, the price of Ethereum Classic is predicted to be within a range of $22.84 to $55.73 with the average price of $37.22. Experts predict Ethereum Classic could see a 200.22% price increase by April, with December being the year’s low.
These forecasts are indicative of a strong performance in the medium term particularly if the bullish momentum returns. In 2026, the price forecast for Ethereum Classic remains generally bullish.
The highest $ETC price is expected to be $36.20 in May while the lowest can be expected to be $16.3 in February. The average price for 2026 is forecasted to be $22.91, suggesting volatility but a positive long-term outlook.