Post by
cryptoalerts on Oct 18, 2024 6:52am
Ethereum Classic Price Outlook: Can ETC Reach $55?
Ethereum Classic (ETC) is trading at $19.15, but what does the future hold? Let’s explore the
ETC price prediction based on current trends.
Potential Price Target: By the end of 2024, ETC has the potential to reach a maximum price of $55. However, the current downward trend raises concerns.
Recent Price Action: ETC recently fell below $20, with declining trading volumes. This has led to the formation of a resistance trendline and the possibility of a death cross between the 50-day and 200-day moving averages.
Bullish Case: If bullish momentum returns, ETC could test its next resistance at $25.50.
Bearish Case: On the downside, continued bearish movement might push the price toward $15.00.
Trend Reversal: The lower-high pattern from the 2022 bear market has been broken. ETC's surge to $21.80 in 2023 suggests a potential trend reversal.
2024 Prediction: There’s a chance ETC could hit $55 in 2024, though a drop to $12.65 is also possible, with an average price projection of $33.83.
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