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Ethereum Classic (ETC) Price Forecast: It Needs to Break Critical Resistance!

  • Ethereum Classic (ETC) price chart shows a sideways movement and is trading near specific support and resistance levels.
  • If the ETC price falls below $17.53, the downward trend may strengthen and it could decline to $16.96.
  • However, if the ETC price encounters strong buyers in the support zone, it may initiate an upward movement and advance towards $19.53.

When analyzing the technical price chart of Ethereum Classic (ETC), it can be observed that it is moving sideways and trading near specific support and resistance levels. Based on the current analysis of ETC, the price may exhibit downward or upward trends depending on its closing levels at certain levels.

Medium-Term ETC Analysis

1-Day ETC/USD Price Chart
1-Day ETC/USD Price Chart

When examining the daily price chart of Ethereum Classic (ETC), it can be seen that it is moving close to the trend line. According to the analysis, if the ETC price achieves daily candle closes above the resistance zone indicated in blue, it may continue its upward movement.

If the ETC price surpasses the $19.79 resistance level and achieves daily candle closes, it may sustain its upward movement towards $21.45. However, if it fails to break the $19.79 resistance, it may initiate a downward movement towards $17.50.

If the ETC price achieves daily candle closes below $17.50, it may extend its decline towards $16.70. However, if the ETC price maintains support at $16.70, it may exhibit an upward trend again.

As long as the ETC price remains above $16.60, there is a possibility of continuing its upward movement towards the $21.45 resistance. It is noted that many major investors are waiting for an opportunity to buy ETC within this range.

Short-Term ETC Analysis

Hourly ETC/USD Price Chart

Hourly ETC/USD Price Chart

When analyzing the technical price chart of Ethereum Classic (ETC), it can be seen that it continues to move sideways. If the ETC price achieves hourly candle closes below the $17.53 level, it may extend its downward movement towards $16.96.

However, if the ETC price encounters strong buyers in the support zone mentioned in the analysis, it may exhibit an upward reaction and continue its upward movement towards $19.53.

If the ETC price achieves hourly candle closes above the $19.53 level, it may sustain its upward movement towards $20.30. In this case, ETC has the potential to continue its upward trend.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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