With Bullish ETC price prediction hitting the ranges from $50 to $65, the Ethereum classic price might also hit the $80 mark soon. However, many have predicted the ETC bearish market price prediction for 2021 to be $31. But what does the analysis say? Let’s dig deeper to know more about it.
The crypto industry has been on the rise, and why wouldn’t it. With many crypto projects getting improved so that they can stay ahead in the game, it is common to see the user base widening as well. Although almost all the variation of digital currency is on the rise, the Ethereum classic remains the same. It is the less popular of the two.
However, does it have enough potential to increase its value in the coming 10 years? ETC is one of the promising digital currencies that allow the DApps to connect. Moreover, it allows the DApps to connect with the blockchain easily. While each crypto is increasing its value, every investor of Ethereum Classic is asking whether it will reach $80 in 2021.
But Before We Discuss the Predicted Price Point, Let Us Thoroughly Know What Is Ethereum Classic or ETC?
One of the common questions that many end up asking is “What is Ethereum Classic?”. In short, it is a blockchain-based network that enables users to create a decentralized version of an application easily. Moreover, the ETC network is an open-source project. So, one can say that the design is flexible and adaptable to many. Hence, because of this reason, the system can deploy and execute all the uncensorable contracts.
Those who are wondering whether it is different from Ethereum or not, let us tell you that it is. Ethereum Classic was once the same as Ethereum. However, due to some reasons, both camps had to part ways using a hard fork. In addition, Ethereum Classic uses the native crypto ETC to utilize the purchasing premium services in its network. Moreover, they also use the ETC token to reward the miners in the network.
Now that we have gotten to understand the concept behind Ethereum Classic, let us discuss whether it will be profitable in the coming years or not.
However, we must analyze the Current Market Status
As of now while writing this Ethereum Classic price analysis, the ETC is trading at $61.98. Moreover, it has a 24-hour trading volume of $592,307,050. As a result, one can notice that the price of ETC has increased by 1.00% in one day. Furthermore, currently, the ETC has a current circulating supply of 131,126,205.00 ETC. Moreover, the top digital currency exchanges for ETC are Binance, ZG.com, Huobi Global, OKEx, and CoinTiger.
Now Let’s Dive into Discussing the Ethereum Classic Price Prediction For 2021
Currently, according to Coin Market Cap, the ETC holds the 19th position in the digital currency market. But many are questioning whether the latest upgrades, revisions, and progress of the blockchain will change the value of the cryptocurrency. Many are asking whether this upgrade results in digital money reaching higher.
The chart shows a descending triangle pattern. In the above chart, we can notice that ETC has shown a bearish trend over the past month. As a result, the descending triangle pattern hints towards the fact that ETC will finally go bearish. However, when it comes to seeing the foreseeable future, we can say that it will have more chances of going bearish. In other words, it will not hit the bullish trend but stick to the bearish trend.
Moreover, if you notice the above-mentioned chart, you may notice that at the beginning of this month it was different. The ETC consequently turned from its bear to bull trend. Many believe that it was the result of the high trade volume that took place during that period. Now coming to the relative strength index. It is above 38.86. Hence, one can assume that ETC is in an oversold state.
So, now the traders need to stay cautious because they should turn away from further losses. Since the start of 2021, ETC has seen many bullish moves that have hit comparatively higher. Moreover, they include constant ups and downs, corrections, and mergers as well. According to the charts, if ETC continues to run along with the bulls, it may overtake its $80.91 mark. Or better, it may move even higher.
If the bullish trend continues, then there is a chance that ETC will reach the $92 mark by the end of 2022. We also predict that the first half of 2022 will show fast growth with no major falls. Moreover, as they have multiple partnerships along the way, it is an optimistic matter.
If ETC continues to hold the support level around 200-MA, then there is a chance for growth. As a result, the long-term moving average of 200 days firmly will open the chance for ETC to hit the $120 mark. Moreover, what is better is that the price at this point will be consistent rather than plummeting.
However, in the next four years, the ETC price may hit the mark of $165. Although it may not be as difficult as one may think. Many think that because of the medium, short-term, and long-term price targets, it may become easy for ETC to achieve this mark. In other words, it hints towards ETC having reached a new ATH soon.
Compared to 2025, we predict that the Ethereum classic may hit the mark of $1530. If everything goes well in the crypto market. And if it continues to go through a consistent mode, then hitting $1530 will not be tough. However, if it goes through a downward trend, then the minimum value for ETC will be $1150.
For those who want to know the Ethereum Classic Price prediction for the upcoming 10 years, let us tell you that it has a bright future. With the ongoing upgrades within the ETC ecosystem, it will perform well. Moreover, the overall result in the crypto market will help ETC reach new heights.
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