Ethereum Classic Price Prediction 2022 -Will ETC Hit $200 Soon?

Ethereum Classic Price Prediction 2022 — Will ETC Hit $200 Soon?
  • Bullish ETC price prediction is $75.23 to $185.88.
  • The ETC price will also reach $200 soon.
  • ETC bearish market price prediction for 2022 is $9.83.

In Ethereum Classic’s (ETC) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about ETC to analyze the future movement of the cryptocurrency. 

Ethereum Classic Current Market Status

According to CoinGecko, the price of ETC is $33.08 with a 24-hour trading volume of $339,681,65  at the time of writing. However, ETC has increased nearly 2.6% in the last 24 hours.

Moreover, ETC has a circulating supply of 132,303,630 ETC. Currently, ETC trades in cryptocurrency exchanges such as Binance, Mandala Exchange, OKEx, CoinTiger, and ZBG.

What is Ethereum Classic (ETC)?

A hard fork of Ethereum (ETH) that launched in July 2016 is ethereum Classic (ETC). The main focus of Ethereum Classic is as a smart contract network, with the ability to host and support decentralized applications (DApps). The native token is ETC. Ethereum Classic’s main aim is to preserve the Ethereum blockchain as it originally was, without artificially countering the DAO hack. The Ethereum Classic network is secured using proof-of-work, but as a minority chain, it has suffered regular attacks itself.

Ethereum Classic (ETC) Price Prediction 2022

Ethereum Classic holds the 41st position on CoinGecko right now. ETC price prediction 2022 is explained below with a daily time frame.

ETC/USDT Falling Wedge Pattern (Source: Tradingview)

A falling wedge is a bullish pattern. Together with the rising wedge formation, these two create a powerful pattern that signals a change in the trend direction. A falling wedge pattern is considered to be a reversal pattern, although there are examples when it facilitates a continuation of the same trend. The falling wedge pattern occurs when the price is moving in an overall bullish trend before the price action corrects lower. 

Currently, ETC is in the range of $33.08. If the pattern continues, the price of ETC might reach the resistance level of $77.82 and $128.90. If the trend reverses, then the price of ETC may fall to $26.40.

Ethereum Classic (ETC) Support and Resistance Level

The below chart shows the support and resistance level of ETC.

ETC/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frame, it is clear the following are the resistance and support levels of ETC.

Resistance Level 1 $75.23
Resistance Level 2$185.88
Support Level 1$27.50
Support Level 2$9.83
Support Level 3$3.76
ETC Resistance & Support Level

The charts show that ETC has performed a bullish trend over the past month. If this trend continues, ETC might run along with the bulls overtaking its resistance level at $185.88.

Accordingly, if the investors turn against the crypto, the price of the ETC might plummet to almost $9.83, a bearish signal.

Ethereum Classic Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of ETC is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of ETC lies below the cutoff line, indicating weaker participants in the current trend.

ETC/USDT RVOL, MA, RSI (Source: TradingView)

More so, the ETC’s Moving Average (MA) is shown in the chart above. Currently, ETC is in a bearish state. Notably, the ETC price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of ETC at any time.

Meanwhile, the relative strength index (RSI) of the ETC is at level 47.54. This means that ETC is in a neither overbought nor oversold state. However, this means a major price reversal of ETC may occur in the upcoming days. So, traders need to trade carefully. 

Ethereum Classic Price Prediction 2022 — ADX, RVI

Let us now look at Ethereum Classic’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

ETC/USDT ADX, RVI (Source: TradingView)

The above chart represents the ADX of the Ethereum Classic. Currently, ETC lies in the range of 44.94, so it indicates a strong trend. 

From the above chart, the Relative Volatility Index (RVI) of ETC. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of ETC lies below the 50 levels, indicating that the direction of volatility is low. In fact, ETC’s RSI is at 47.54 level thus confirming a potential sell signal.

Comparison of ETC with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum, and Ethereum Classic.

BTC Vs ETH Vs ETC Price Comparison (Source: TradingView)

From the above chart, we can identify the trend of the ETH, BTC, and ETC is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and ETC also increases or decreases respectively.

Conclusion

With continuous improvements in the Ethereum Classic network, we can say that 2022 is a good year for ETC. For this reason, the bullish price prediction of Ethereum Classic in 2022 is $185.88. On the other hand,  the bearish ETC price prediction for 2022 is $9.83.

Furthermore, with the advancements and upgrades on the ETC ecosystem, the performance of ETC would help to reach above its current all-time high (ATH) $167.09 very soon. But, it might also reach $200 if the investors believe that ETC is a good investment in 2022.

FAQ

1. What is Ethereum Classic?

A hard fork of Ethereum that launched in July 2016 is ethereum Classic (ETC). The main focus of Ethereum Classic is as a smart contract network, with the ability to host and support DApps. 

2. Where can you purchase ETC?

ETC has listed on many crypto exchanges which include Binance, Mandala Exchange, OKEx, CoinTiger, and ZBG.

3. Will ETC reach a new ATH soon?

With the ongoing developments and upgrades within the ETC platform, it has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Ethereum Classic?

On May 06, 2021, ETC reached its new all-time high (ATH) of  $167.09.

5. Is ETC a good investment in 2022?

Ethereum Classic (ETC) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of ETC in the past few months, ETC is considered a good investment in 2022.

6. Can Ethereum Classic (ETC) reach $200?

Ethereum Classic (ETC) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Ethereum Classic (ETC) will hit $200 soon.

7. What will be the ETC price by 2023?

Ethereum Classic (ETC) price is expected to reach $214 by 2023.

8. What will be the ETC price by 2024?

Ethereum Classic (ETC) price is expected to reach $220 by 2024.

9. What will be the ETC price by 2025?

Ethereum Classic (ETC) price is expected to reach $235 by 2025.

10. What will be the ETC price by 2026?

Ethereum Classic (ETC) price is expected to reach $240 by 2026.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.