Key Takeaways:
- The Ethereum Classic (ETC) price closed the previous day’s trade at $39.65 with a market capitalization of $4.92 billion and a circulating supply of 136.72 million
- The ETC price is breaking all the interim resistance to reach the pivotal levels that may further ignite a huge upswing of more than 25% very soon
Ethereum Classic(ETC) PRICE & Technical Analysis
| Current Price | $40.48 |
| ETC Price Prediction for Today | $45.81 |
| Volatility | 10.18% |
| 50-Day SMA | $34.04 |
| 14 Day RSI | 61.48 |
| Sentiment | Bullish |
| Fear and Greed Index | 22 (Extreme Fear) |
| Green Days | 18/30 (60%) |
| 200-Day SMA | $28.73 |
Top Crypto News: Ethereum Bellatrix Upgrade Live
Ethereum Classic Technical Analysis for the Month
Ethereum Classic with the recent price action, is slowly accomplishing a huge bullish pattern that may further pull a massive leg up. As the price faced rejection at $50, the asset underwent a parabolic recovery but again faced a bearish hindrance at $45. The bears compelled the price to hit the bottom at $30, while recovery above $44, may accomplish a huge bullish pattern.
The ETC price may complete with a huge cup and handle pattern as it hits the resistance which is also the neckline at $45. However, if the asset beaks above the neckline, a huge upswing may propel the price not only beyond $50. The Ethereum Classic price is trading at $40 and may propel high to reach closer to $60 by the end of the monthly trade.
Ethereum Classic Technical Analysis at a Glance
Ethereum Classic price, no doubt has been bearish for quite a long time but has displayed enough strength. After the steep fall in May 2021, the asset trader with a calculated approach by surging with a less margin to avoid hefty downfalls. However, the assert dropped more than 70% from 2022 highs but managed to surge nearly 200% until the press time.
| Short-Term | The ETC price has made a strong upswing and attracted huge liquidity and due to accumulated buying pressure, the upswing may continue |
|---|---|
| Mid-Term | The asset has just begun to range high as the selling pressure has eased, letting the buying pressure accumulate |
| Long-Term | The ETC price in the long term may be slightly consolidated but within the ascending range |
Additional Read: Ethereum Merge Update
Ethereum Classic Price Prediction 2022
Will ETC Price Reach $45 Today?
The Ethereum Classic price began to surge in the later hours of the previous trading day and continues to maintain the same momentum at the press time. The asset broke out of the bullish flag pattern in the early trading hours and surged by 14%. However, the price is consolidating around the gained levels and is due for another breakout very soon.
In the coming hours, the ETC price may again experience a breakout as the price has reached the apex of the bullish flag. By the end of the day’s trade, the ETC price may hopefully surge and test the upper resistance between $44 & $45, but may not face a steep rejection.
Will ETC Price Reach $60 by the End of the Month?
Ethereum Classic has been trading under the influence of the bears for a pretty long time. However, considering the recent developments, the possibility of a huge upswing emerges that may bring the asset closer to the yearly target of a 3-digit figure. In the upcoming days, the price may try hard to maintain above $45 and try to reach $50.
In the H2 of September, the price may experience a slight pullback that may drag the price back below $50. Considering the previous price actions, the asset along with Ethereum may face a huge correction after the Merge, but may soon recover. By the end of the monthly trade, the ETC price may trade around $55 to $62.
Ethereum Classic Price Prediction: Price Trend Comparison with Bitcoin
Source: Tradingview
- Ethereum Classic & Bitcoin have been the top location for the Ethereum miners in recent times as they will not have any job to do post the Merge
- Both the assets maintained corresponding price movements since the beginning, but the ETC price underwent a gigantic rally
- The BTC/USDT price dropped hard from the average levels and currently trading at -16.75%, displaying no signs of a recovery
- Conversely, ETC/USDT price that dropped from the highs around +12.5% smashed the bottoms close to -22.50% and currently trading around +1.27%
Ethereum Classic Price Prediction: 2022, 2023, 2024, 2025
Ethereum Classic price in recent times have displayed huge bullish momentum and expected to spike high in the coming days. By the end of the month, the price may rise beyond the initial target and by the end of the year may achieve the desired target of a 3-digit figure. In the coming years, the asset is expected to attract strong hands and maintained an elevated trend.
| Year | ETC Price Forecast |
|---|---|
| 2022 | $62 to $78 |
| 2023 | $89 to $113 |
| 2024 | $102 to $176 |
| 2025 | $181 to $217 |
Additional Read: Ethereum Classic Price Prediction 2022
Ethereum Classic News Today
- Ethereum hash rate hits the highest levels of 48.64THs as the Ethereum Merge approaches. As per the data, the hash rate has reached the highest levels since its inception in 2016.
- Ahead of the Merge, one of the top mining pools BTC.com has extended its support towards Ethereum Classic and launched a BTC.com ETC pool. Additionally, the pool has also launched a zero-fee ETC mining for 3 months.
As the ETH 2.0 merge is approaching, https://t.co/38N9uRCNSj will launch a three-month ETC mining “zero fee” activity on September 1 of 2022 to reward new and regular users for their support of https://t.co/38N9uRCNSj.#EthereumClassic #EthereumMerge https://t.co/gd1v0S8xfG pic.twitter.com/XTfDoG8sDg
— BTC.com (@btccom_official) August 31, 2022
