Ethereum Classic Price Prediction, will ETC’s price hit $31.08?
Ethereum Classic’s price at the same time last week was $19.00. It has moved by -1.48 % in the past week and is currently at $18.59. Infact, in the past 24 hours, ETC has dumped by -0.57 %. There is a slight bearish sentiment in the crypto market. The long term sentiment, however, remains bullish and ETC could hit $31.08 in 2024.
The total circulating supply of Ethereum Classic as of writing this article was $143202119.75 and the marketcap of ETC remains at $2,658,221,012
Disclaimer
For some coins with little to no data points and inexistent historical data the model by default will show a positive price prediction. There is no way for our AI bot to decipher whitepaper, tokenomics and team integrity. The coin's price that you are about to see below can fall drastically depending on many factors, so please invest wisely after checking the team and project's whitepaper. This current price prediction is done by a machine crunching numbers and the model is still in the early beta stages. It should strictly not be taken as an investment advice. Although the best engineers are currently tweaking and updating the algorithm, no human has verified the price predicted below, so please use your discretion and make a decision wisely.
About Ethereum Classic
Ethereum Classic (ETC): An overview
Source: Ethereumclassic.org
Founded by Vitalik Buterin and the Ethereum Foundation, Ethereum Classic (ETC) is a blockchain that was built due to the split of the Ethereum blockchain into two separate chains after a disagreement among its community members.
In July 2016, the Ethereum network forked into two blockchains: Ethereum and Ethereum Classic. Ethereum Classic uses proof of work (PoW) to validate transactions. However, after the Merge in September 2022, Ethereum recently switched to the proof of stake (PoS) consensus, making it sustainable. These blockchains have their own currencies: Ether (ETH) and ETC.
Ether (ETH) is the native token of Ethereum, whereas ETC is the native cryptocurrency of Ethereum Classic. Post the split, ETH holders at the time received the same amount of ETC in their wallets for free.
Some of the use cases for Ether (ETH) are as follows:
- Decentralized autonomous organizations (DAOs)
- Layer 1 network
- Layer 2 solutions (network of networks)
- Enterprise Ethereum
- Smart contracts
- Network of tokens
- Non-fungible tokens (NFTs)
Some of the use cases for ETC are as follows:
- Utility token for decentralized applications (dApps)
- NFT dApps
- Censorship resistance
- Store of value
Ethereum Classic's journey: The DAO hack
Source: Ethereumclassic.org
In early May 2016, some members of the Ethereum community announced the formation of DAO, also known as Genesis DAO. This was built as a smart contract on the Ethereum blockchain, and the coding framework was developed as open-source by the Slock.It team, who are the founding members of DAO: Christoph Jentzsch, Lefteris Karapetsas, and Griff Green.
The DAO had a creation period where anyone was allowed to send Ether to a unique wallet address in exchange for DAO tokens within 1–100. This was an unforeseen success as it managed to gather 12.7 million Ether, making it the biggest crowdfund ever.
Anyone with a project was allowed to pitch their idea to the community and get funding from The DAO. Those with DAO tokens could vote on plans and would later receive rewards if the projects were profitable. Here's a timeline of how the DAO Hack led to the inception of Ethereum Classic:
- On June 17, 2016, things took a turn when a hacker found a flaw in the coding that allowed them to exhaust funds from The DAO.
- 3.6 million ETH were stolen in the initial hours of the attack.
- Later, for unknown reasons, the hacker stopped exhausting the DAO even though they could have. To fix the damage, the Ethereum community managed the situation and dealt with the exploit.
- The funds in the account were kept on hold for a 28-day period, so the hacker couldn't complete the getaway.
- In a bid to refund the lost money, Ethereum had hard-forked to send the hacked funds to an account available to the original token owners. They were provided an exchange rate of 1 ETH to 100 DAO tokens, similar to the initial offering.
- Many Ethereum users were disappointed with the hard fork and believed that it violated the basic principles (Code is Law) of blockchain technology. To add to that, in September and December 2016, cryptocurrency exchanges Poloniex and Kraken delisted DAO tokens.
Other key developments
Source: Ethereumclassic.org
Ever since its inception, Ethereum Classic has achieved a lot within a span of a few years. Here are some of Ethereum Classic's key developments post the hard fork:
- In July 2016, ETC was listed by Poloniex
- In August 2016, DAO funds unlocked on ETC
- In October 2016, Gas Reprice upgrade took place
- In January 2017, Die Hard upgrade took place
- In March 2017, a monetary policy consensus was formed
- In December 2017, the Gotham upgrade took place
- In October 2018, Coinbase listed ETC
- In September 2019, the Atlantis upgrade took place
- In January 2020, the Agharta upgrade took place
- In November 2020, the Thanos upgrade took place
- In July 2021, the Magneto upgrade took place
- In February 2022, the Mystique upgrade took place
- In March 2022, ETC welcomed a new hash rate
- In April 2022, the Ethereum Classic DAO was formed with a mission to future-proof the network's development via an open-source development fund
- In July 2022, Vitalik Buterin endorsed Ethereum Classic
- In July 2022, Antpool supported the Ethereum Classic ecosystem with a $10 million investment
- In August 2022, the ETC hash rate surged
- In April 2023, the website became available in 22 languages
ETC Price Analysis
The weekly chart of ETC was in a strong bearish hold. While the bulls were not completely absent, their position was weak. By the end of our analysis, ETC was trading at $15.05.
ETC weekly chart
Initiating the timeframe, the coin ambitiously tested its peak resistance at $27.16. A stark downturn ensued, pushing ETC below its notable resistance at $20.43. By December 2022, the digital asset plummeted to its lowest support level at $15.09.
Contrasting the bleak tail-end of 2022, the beginning of 2023 ushered in a wave of optimism for ETC. Echoing the sentiments seen across multiple cryptocurrencies, ETC experienced a bullish rally.
This renewed vigor enabled the coin to breach the previous resistance of $20.43, converting it into a newfound support. This bullish support held its ground until mid-April 2023. Unfortunately, the coin failed to revisit its peak resistance level from the previous year.
Following mid-April, the asset navigated through a series of downturns, once again confronting its lowest support in June. Mid-June brought with it a brief spike, though this northbound momentum failed to maintain the coin's position above the $20.43 mark, ultimately culminating in subsequent drops. As the analysis period concluded, the coin was trading close to the $15.09 level.
The trading volume of ETC mirrored its price dynamics throughout the year. Notably, after the price decline in July, the volume contracted and maintained a subdued presence, indicating a reduced trader interest and potentially lower liquidity in the market.
December 2022 saw the Chaikin Money Flow (CMF) diving to a low of -0.32, indicating an increased selling pressure. However, as the bullish phase commenced in early 2023, the CMF ascended above the zero line by February 2023.
This rise portrayed an influx of capital into the coin. It remained there till July with two minor dips in between. However, as July ended, the CMF was submerged again. By the end of the period, its value rested at -0.06.
The Directional Movement Index (DMI) also painted a grim picture of seller dominance. +DI began its trajectory positioned above both the -DI and the ADX. However, as November 2022 concluded, a dip in the +DI reflected a waning buying strength, only to recover in January 2023.
The subsequent months witnessed the +DI undergoing several fluctuations, with notable dips in March, between May and June, and then in August. Throughout this period, the ADX remained beneath both the +DI and -DI, showcasing a lack of a strong prevailing trend.
The year concluded with the values at -DI: 22.8747, +DI: 18.9794, and ADX: 10.5249, implying a marginally stronger selling pressure.
Should you consider buying ETC?
Based on the aforementioned analysis, ETC has predominantly been in a downtrend. The coin's prevailing bearish sentiment makes it imperative for traders to tread with caution.
For traders still considering an entry, targeting a buying range between $15 to $16 might be deemed reasonable, keeping in mind the adjacent resistance and the current market dynamics.
Ethereum Classic Price Prediction
Ethereum Classic has had an eventful 2021. To simplify the latest ETC price prediction, we have divided up the prediction by short term Ethereum Classic price prediction and long term Ethereum Classic price prediction. As of writing this article, ETC had a trading volume of 226,111,424. Ethereum Classic has gone up by 7.58% in the past 30 days.
According to our analysis in the short term, Ethereum Classic price prediction for January 2024 shows the average price of ETC at 25.90 and the highest possible price for January 2024 would be $27.71.
Further, according to our analysis in the long term, Ethereum Classic price prediction for May 2024 shows the average price of ETC at 28.40 and the highest possible price for May 2024 would be $30.39.
Ethereum Classic's Short Term Price Prediction
| Date | Avg Price | Lowest Price | Highest Price |
| 1 December 2023 | $19.27 | $17.93 | $20.62 |
| 2 December 2023 | $19.09 | $17.76 | $20.43 |
| 3 December 2023 | $19.07 | $17.74 | $20.41 |
| 4 December 2023 | $19.34 | $17.98 | $20.69 |
| 9 December 2023 | $20.54 | $19.10 | $21.98 |
| 14 December 2023 | $21.91 | $20.37 | $23.44 |
| 24 December 2023 | $25.11 | $23.35 | $26.87 |
Ethereum Classic price prediction 1 December 2023: Ethereum Classic's price for 1 December 2023 according to our analysis should range between $17.93 to $20.62 and the average price of ETC should be around $19.27.
Ethereum Classic price prediction 2 December 2023: Ethereum Classic's price for 2 December 2023 according to our analysis should range between $17.76 to $20.43 and the average price of ETC should be around $19.09.
Ethereum Classic price prediction 3 December 2023: Ethereum Classic's price for 3 December 2023 according to our analysis should range between $17.74 to $20.41 and the average price of ETC should be around $19.07.
Ethereum Classic price prediction 4 December 2023: Ethereum Classic's price for 4 December 2023 according to our analysis should range between $17.98 to $20.69 and the average price of ETC should be around $19.34.
Ethereum Classic price prediction 9 December 2023: Ethereum Classic's price for 9 December 2023 according to our analysis should range between $19.10 to $21.98 and the average price of ETC should be around $20.54.
Ethereum Classic price prediction 14 December 2023: Ethereum Classic's price for 14 December 2023 according to our analysis should range between $20.37 to $23.44 and the average price of ETC should be around $21.91.
Ethereum Classic price prediction 24 December 2023: Ethereum Classic's price for 24 December 2023 according to our analysis should range between $23.35 to $26.87 and the average price of ETC should be around $25.11.
Ethereum Classic's Long Term Price Prediction
Ethereum Classic’s long term Price Prediction below is a look at ETC’s future prospect with regards to price. Ethereum Classic was last seen at $18.59, with a market cap of $2,658,221,012 and trading volumes of $226,111,424. ETC’s price prediction is possible by analyzing historical price action, current developments and social sentiment from the community.
| Years | Avg Price | Lowest Price | Highest Price |
| 2024 | $25.90 | $20.72 | $31.08 |
| 2025 | $33.41 | $26.73 | $40.09 |
| 2026 | $43.10 | $34.48 | $51.72 |
| 2027 | $55.60 | $44.48 | $66.72 |
| 2028 | $71.72 | $57.38 | $86.07 |
| 2029 | $92.53 | $74.02 | $111.03 |
| 2030 | $119.36 | $95.49 | $143.23 |
| 2031 | $153.97 | $123.18 | $184.77 |
| 2032 | $198.62 | $158.90 | $238.35 |
| 2033 | $256.22 | $204.98 | $307.47 |
Ethereum Classic price prediction 2024: Ethereum Classic's price for 2024 according to our analysis should range between $20.72 to $31.08 and the average price of ETC should be around $25.90.
Ethereum Classic price prediction 2025: Ethereum Classic's price for 2025 according to our analysis should range between $26.73 to $40.09 and the average price of ETC should be around $33.41.
Ethereum Classic price prediction 2026: Ethereum Classic's price for 2026 according to our analysis should range between $34.48 to $51.72 and the average price of ETC should be around $43.10.
Ethereum Classic price prediction 2027: Ethereum Classic's price for 2027 according to our analysis should range between $44.48 to $66.72 and the average price of ETC should be around $55.60.
Ethereum Classic price prediction 2028: Ethereum Classic's price for 2028 according to our analysis should range between $57.38 to $86.07 and the average price of ETC should be around $71.72.
Ethereum Classic price prediction 2029: Ethereum Classic's price for 2029 according to our analysis should range between $74.02 to $111.03 and the average price of ETC should be around $92.53.
Ethereum Classic price prediction 2030: Ethereum Classic's price for 2030 according to our analysis should range between $95.49 to $143.23 and the average price of ETC should be around $119.36.
Ethereum Classic price prediction 2031: Ethereum Classic's price for 2031 according to our analysis should range between $123.18 to $184.77 and the average price of ETC should be around $153.97.
Ethereum Classic price prediction 2032: Ethereum Classic's price for 2032 according to our analysis should range between $158.90 to $238.35 and the average price of ETC should be around $198.62.
Ethereum Classic price prediction 2033: Ethereum Classic's price for 2033 according to our analysis should range between $204.98 to $307.47 and the average price of ETC should be around $256.22.
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FAQs about Ethereum Classic
Ethereum Classic’s current price is $18.59 and witnessed a -0.57% decrease in the past 24 hours. ETC/BTC pair saw a -0.50% decrease in the past 24 hours
Investing in Ethereum Classic, ETC will purely depend on your personal risk appetite. As you can see over the past 24 hours Ethereum Classic’s price has witnessed a -0.57% decrease and over the past 30 days Ethereum Classic has increase by 7.58%. So it all depends on if this investment will hit your trading goals.
According to our latest Ethereum Classic Price prediction for 2023, ETC should vary between $32.71 and $21.81. Please keep in mind that the crypto market is very volatile and this Ethereum Classic price prediction does not account for extreme wild swings in price.
As per the Ethereum Classic price prediction 2023 model above, ETC’s price for November 2023 should range between $21.81 to $32.71 with the average price for November being $27.26
According to the Ethereum Classic Price Prediction model above, ETC’s price in 2024 would be $25.90. This price would however would range from $31.08 and $20.72.
According to the Ethereum Classic Price Prediction model above, ETC’s price in 2025 would be $33.41. This price would however would range from $40.09 and $26.73.
According to the Ethereum Classic Price Prediction model above, ETC’s price in 2026 would be $43.10. This price would however would range from $51.72 and $34.48.
According to the Ethereum Classic Price Prediction model above, ETC’s price in 2027 would be $55.60. This price would however would range from $66.72 and $44.48.
According to the Ethereum Classic Price Prediction model above, ETC’s price in 2028 would be $71.72. This price would however would range from $86.07 and $57.38.
According to the Ethereum Classic Price Prediction model above, ETC’s price in 2029 would be $92.53. This price would however would range from $111.03 and $74.02.
According to the Ethereum Classic Price Prediction model above, ETC’s price in 2030 would be $119.36. This price would however would range from $143.23 and $95.49.
According to the Ethereum Classic Price Prediction model above, ETC’s price in 2031 would be $153.97. This price would however would range from $184.77 and $123.18.
According to the Ethereum Classic Price Prediction model above, ETC’s price in 2032 would be $198.62. This price would however would range from $238.35 and $158.90.
According to the Ethereum Classic Price Prediction model above, ETC’s price in 2033 would be $256.22. This price would however would range from $307.47 and $204.98.
The highest price for Ethereum Classic was recorded in 6 May 2021 during which ETC hit an All Time High of $167.09
The price of 1 Ethereum Classic according to current market rate is $18.59
