Ethereum Classic (ETC) – the hard fork of Ethereum (ETH) is one of the cryptocurrencies that has been gaining increasing attention in the bull run of 2021. ETC coin has had 70s at $40% gains in the year-to-date window. At the time of writing, ETC coin stands at $49.84, breaking at previous all-time high of $49.67. The price of ETC coin has increased by 13% in the past twenty-four hours while the daily trading volume has decreased by 13%. Ethereum Classic stands at 31st rank in the market with the capitalization of the coin increasing by 13%.
Ethereum Classic (ETC) technical analysis
The market sentiment for Ethereum Classic is strongly bullish. Out of the twenty-six total technical indicators, none of them are giving out a signal of sell. Seventeen of the technical indicators are standing at a sell position while the rest – nine – are neutral. Both the oscillators and moving averages are bullish.
A trader has identified important Fibonacci retracement levels for Ethereum Classic. Per the trader’s analysis, ETC coin has been on an uptrend – following an ascending trendline. Ethereum Classic has broken the first important level of resistance at the price level of $46. The next crucial resistance level lies at the 0.618 Fibonacci level parallel to the price level of $60, followed by 0.768 and 1 Fibonacci retracement levels at $78 and $107 respectively – setting the levels as price targets. The overbought Relative Strength Index is returning back to normal levels, hence, a pullback may be expected.
Ethereum Classic (ETC) price prediction
The hard fork that was launched to “preserve the integrity” of the Ethereum blockchain after a major hack had been diverging more and more from Ethereum. The project is now considered valuable on its own. The forecasts of Trading Beasts place ETC coin on a downward trend with a price level of $30 while the five yeas’ prediction puts ETC crypto at $50. Wallet Investor, too, is bearish on the cryptocurrency in the long-term and expected a minor fall to $47 while the 5-year prediction places ETC at $57. However, the estimates of Digital Coin Price are kind on the cryptocurrency as the price is expected to go upwards towards $222 in 2028.