Ethereum Classic Price Prediction: 2024, 2025, 2030

ETC price prediction: Key highlights

1. Primary support and resistance levels

• The weekly chart revealed $34 to be the highest resistance.
• Meanwhile, the lowest support can be anticipated at $11.

2. Market sentiment

• The ETC market sentiment is seen to be bearish in August 2024.

3. Predictive forecasts

• Our AI/ML predictive algorithms project ETH's average price to be around $150 by 2026 and $9,000 by 2032.

Take a glance at a detailed weekly technical analysis of ETC, followed by projections for the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:

ETC technical analysis: Asset set to have a tough year ahead

The current crypto market is experiencing significant turbulence, which has notably affected the growth of ETC. Nevertheless, analyzing historical trends can provide a more nuanced perspective for the Ethereum Classic price prediction in 2024.

Like the broader market, Q3 2023 was marked by a downtrending price. The initial attempt to overcome $18 proved fruitless amid insufficient buying pressure. However, the declines were arrested at the yearly low floor of $14, which remained resilient between mid-August and mid-October.

Concurrently, a notable bull rally ensued. By November, the previous level had been flipped to support. Moreover, this uptrend elevated the price to test $22 between December and early January. A notable surge pushed the price past this level, driven by excitement surrounding the approval of Bitcoin (BTC) exchange-traded funds (ETFs).
 

Despite a slight pullback at $26, the rally resumed by month’s end, marked by consecutive bullish candles. In March, the asset surpassed its peak yearly resistance at $34. Nonetheless, it swiftly fell below as liquidations increased, and investors started realizing profits amid an overvalued market.

Subsequent tests of this resistance faltered as increased geopolitical tensions adversely affected market conditions in April. $26 remained resilient in absorbing the market heat, allowing buyers to regroup in late May.

AMBCrypto reported that the rebound to test the peak barrier was spurred by the Ethereum (ETH) ETF approval. Additionally, the network witnessed a block reward reduction on May 31. Initially established at 4 ETC per block, the reward decreases by 20% approximately every two years or every 5,000,000 blocks.
 

With the reward being reduced to 2.048 ETC from 2.56 ETC, this fourth halving did not lead to a bull run, defying market expectations. Instead, a downtrend took hold as crucial levels were lost to sellers in June.
 

Furthermore, AMBCrypto’s outlook for ETC in 2024 envisioned a prolonged bearish stronghold. Thus, the continued declines drove the asset to $18 in July. Notwithstanding, the bulls flipped $22 by mid-month.

AMBCrypto noted that despite this uptick, buyer enthusiasm was low. Consequently, the bears quickly clawed the price below this level. This decline suggested that a bearish trend was more probable than a recovery. By August, the price returned to $18. At press time, the altcoin exchanged hands at $19.

If the bulls are unable to hold the current support, the price could drop to $14, thus erasing a year’s gains. If left unchecked, a further decline to $11 is possible.

Nonetheless, if ETC bulls rally, flipping the current resistance would be a prioritized goal. A move over $26 would tip the scales in buyers’ favor. This scenario suggests that ETC might climb to the yearly high. Additional upward movement could push it to $46 and $60 within the year, although it will likely encounter significant resistance at $52.

Predictive models suggest the asset could reach an average trading price close to $150 by 2026. This forecast is significant as it positions the asset near its all-time high (ATH). By 2032, the projected average price could surpass $9,000, indicating modest growth.

ETC's 2024 roadmap: Key indicators to watch and trade

• The trading volume supported the price rallies with modest upticks. However, its deprecation from Q2 2024 pointed to a lack of investor interest.
• The On-Balance Volume’s (OBV) flat trajectory until October preceded a sharp ascension until early March. Subsequently, the indicator moved south, registering at 564.03 million at the analysis' end, indicating an uptick in selling pressure.
• The Relative Strength Index (RSI) crossed the 50 line by the end of October. It moved into the overbought territory towards the end of February only to reverse its trajectory by the following month.
• By mid-June, the indicator was back below 50, highlighting bearish momentum with a press time value of 40.06.