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Crypto Price Prediction

Ethereum Classic Price Analysis: Will ETC Price Touch $23 Soon?

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  • The price of ETC is trading at $16.40.
  • The ETC price increased by +3.86% in the last 24 hours.
  • The ETC year-to-date return is +4.39%.

Weekly Trend Analyzation

This week the trend was bullish as the price was up by 7.54%. By trend and price information history, we can say that ETC is performing well. 

All-Time History Analyzation

The coin’s value surged by more than 2000% in all-time history, giving good returns to the investors’ money. In the last 1 year, it has shown a considerable performance in its price by 1.17%.

In 1-D Timeframe

In 1-D Timeframe ETC
Source: ETC/USD.1D.COINBASE by TradingView

Trendline Analyzation

As per the trendline, it respected and faced rejection as well exactly from the drawn trendline on the chart. It’s been bearish from the point where it was rejected from the trendline. But recently it formed a commonly seen bullish pattern known as descending broadening wedge. So, as price action speaks, it already took support on trendline soon it might give a breakout in a couple of days. After that it will face correction and then another possible breakout can occur in the long term it can reach $23 soon which is our nearest major resistance.  

Supertrend

With the help of just two parameters: period and multiplier, this indicator works well. At period value 20 and multiplier value 2, it shows the continuous trend if it’s bullish or bearish. As shown in the chart, it was bearish earlier, but recently the price took proper support from the support zone and showed considerable interest in buyers Now, the super trend might turn bullish soon.

MACD

As we can see in the chart, the blue line or MACD line crossed the signal line from below while making a bullish crossover. This indicates a bullish trend signal. On the day of writing, the MACD line and the signal line are on the positive side of the MACD indicator. This highlights that the trend may continue upward.

EMA 

The price is going up on the 1D chart. It is above 10 & 20 EMA (exponential moving average), which gives quite an idea that buyers are ready to buy stock at every price which is a good sign as well.

Bollinger Band

In the Bollinger Band indicator, Ethereum Classic coin price is trading at the upper band. After taking support from the 20-day Simple Moving Average (SMA) of the Bollinger Bands, it is indicating an upward move.

ETC
Source: ETC/USD.1D.COINBASE by TradingView

Volume Analyzation

The amount of ETC traded in a day is $164260280. It rose by 93.49% since the past day. The trading activity is comparatively good in ETC now because the market is favorable and the presence of buyers for the coin increased significantly as well. Therefore, it can push the price up due to the considerable volume present in the market.

Conclusion

The ETC coin price, as per the price action, is bullish. Currently, the technical parameters indicate bullish pressure in the upcoming trading days. Presently, the sentiments of investors and traders are bullish.

Technical Levels:

  • The Nearest Support Zone is $13.70.
  • The Nearest Resistance Zone is $23.15.

Disclaimer

In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

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