The Ethereum Classic Price Prediction 2021 – Will ETC Hit $70 Soon?

The Ethereum Classic Price Prediction 2021 - Will ETC Hit $70 Soon?
  • Bullish ETC price prediction ranges from $54 to $67.
  • ETC price might also reach $70 soon.
  • ETC bearish market price prediction for 2021 is $37.

In Ethereum Classic (ETC) price prediction 2021, we use statistics, price patterns, RSI, and much other information about ETC to analyze the future movement of the cryptocurrency. 

Ethereum Classic (ETC) is an open-source, decentralized, blockchain-based distributed cryptocurrency platform that runs smart contracts. It utilizes smart contracts contained within a distributed ledger or blockchain network providing decentralized governance.

ETC has value as a speculative crypto asset that investors can trade, Ethereum’s ETH is considered the more legitimate and widely traded.

According to CoinGecko, the Ethereum Classic (ETC) price is trading at $52.55 with a 24-hour trading volume of $2,009,115,806, at the time of writing. However, ETC has increased by 1.08% in the last 24 hours.

Moreover, ETC has a circulating supply of 128,790,359.21 ETC. Currently, ETC trades in cryptocurrency exchanges such as  Binance, Tokocrypto, OKEx, Huobi Global, and FTX.

Ethereum Classic (ETC) Price Prediction 2021

Ethereum Classic (ETC) holds the 19th position on CoinGecko right now. ETC price prediction 2021 is explained below with a daily time frame.

ETC/USDT Price Chart Daily Time Frame (Source: TradingView)

Triangle Pattern is created by drawing trendlines along a converging price range, that can note a pause in the prevailing trend. A triangle pattern is a continuation pattern on a chart that forms a triangle-like shape. Triangle is similar to wedges and can be either a continuation pattern if validated or a powerful reversal pattern, in the event of failure.

In the daily time frame chart, it is possible for the ETC to reach $101.42 if the bull trend continues. Or else, if the price of the ETC breaks the resistance level of $72.65, it will fall to the next support level at $37. So, the trend of the ETC is based on the breakout.

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 hourly time frames, it is clear the following are the resistance and support levels of ETC.

  • Resistance Level 1 – $54
  • Resistance Level 2 – $59
  • Resistance Level 3 – $67
  • Support Level 1 – $48
  • Support Level 2 – $42
  • Support Level 3 – $37

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 $67.

Conversely, if the investors turn against the crypto, the price of ETC might plummet to almost $37, a bearish signal.

Ethereum Classic (ETC) Average Directional Index (ADX)

Now let’s look at the average directional index (ADX) of ETC. Generally, the Average Direction Index (ADX) helps traders determine the strength of a trend, rather than its actual direction. It can used to determine whether the market is changing or a new trend is starting. It is associated with the Directional Movement Index (DMI) and basically includes the ADX line. 

The range of the oscillator is from 0 to 100. A high value indicates a strong trend, and a low value indicates a weak trend. It is often combined with directional indicators. 

ETC/USDT ADX(Source: TradingView)

The above chart shows the ADX of ETC stays above the range of 24.781, so it indicates a weak trend.

Conclusion

The ETC is one of the cryptos that keeps its ground against the bearish market. Furthermore, our long-term ETC price prediction for 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $167.09 this year. However, this will only happen if it breaks many past psychological resistances.

Furthermore, with the ongoing developments and upgrades within the ETC ecosystem, it could experience a great future ahead in 2021. It may reach $67 soon and it might even reach high heights, however reaching $70, if investors have planned that ETC is a good investment in 2021.

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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