- Ethereum Classic (ETC) fell -7.74% against USD today
- ETC/BTC declined -2.14% today
- ETC currently trades 11.60% higher than our November 13, 2022 prediction
- ETC lost -13.19% last month and -57.64% year-over-year
ETC Price Predicted to Drop -10.40% in the Next 5 Days
Ethereum Classic (ETC) is trading at $23.29 after a -7.74% decline in the past 24 hours. The token underperformed the broader cryptocurrency market, which saw a -7.56% drop in total market cap during the same period. ETC also weakened against Bitcoin (BTC), recording a -2.14% loss.
According to our Ethereum Classic price forecast, ETC is expected to reach $20.87 by November 13, 2022—a -10.40% decline over the next 5 days.
Key Trends in Ethereum Classic (ETC)
- 30-day performance: -13.19%
- 90-day performance: -36.85%
- 1-year performance: -57.64% (ETC traded at $54.99 this day last year)
- All-time high (ATH): $165.75 (May 6, 2021)
- Current cycle high: $45.11 | **Cycle low**: $12.63
- Volatility: 5.90 (1-month volatility)
- Green days in past 30 days: 15
Technical Analysis for Ethereum Classic – November 8, 2022
Market sentiment for ETC is currently bearish, with the Fear & Greed Index reading 31 (Fear).
Key Levels
- Support: $24.54, $24.02, $23.46
- Resistance: $25.61, $26.17, $26.69
Indicators Summary
- Bullish signals: 4 indicators
- Bearish signals: 25 indicators
- 86% of indicators support a negative outlook.
Moving Averages & Oscillators
- RSI 14: 50.72 (neutral)
- SMA 50: ETC trades above trendline (bullish)
- SMA 200: ETC trades above trendline (bullish long-term)
Final Outlook
The overall prediction for Ethereum Classic is bearish. ETC needs to decline -10.40% in the next 5 days to hit our $20.87 target. However, cryptocurrency markets remain highly volatile—monitor market sentiment, support/resistance levels, and technical indicators closely.
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FAQ: Ethereum Classic (ETC) Price Prediction
Q1: Why is ETC price dropping?
A: ETC faces bearish pressure due to broader market downturns, negative sentiment, and underperformance against BTC/USD.
Q2: What’s the long-term outlook for Ethereum Classic?
A: Long-term trends are negative (-57.64% YoY), but technical indicators like SMA 200 suggest potential recovery zones.
Q3: How accurate is this ETC price prediction?
A: Predictions are based on historical data and indicators but can’t account for sudden market shifts. Always conduct your own research.
Q4: Where can I trade ETC safely?
A: Use reputable platforms like 👉 OKX for secure ETC trading.
Q5: What drives Ethereum Classic’s price?
A: Factors include Bitcoin’s performance, Ethereum network upgrades, mining activity, and macroeconomic trends.
Q6: Is now a good time to buy ETC?
A: Current bearish signals suggest caution. Watch for stabilization near support levels ($20.87) before considering entry.
Sources: FX168, Golden Finance. Data as of November 2022.
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