#EthereumClassic
🚀 Ethereum Classic ($ETC ) is preparing for a jump: 3 key factors for traders
Ethereum Classic is showing confident growth (+7.73% in 24 hours, price ~$8.60), ahead of most first-tier altcoins.
🔍 Here's what you need to know about the current state and prospects of ETC:
➡️ Layer-1 altcoin rally: Older blockchains are back in the game. Against the backdrop of a strong jump in Polkadot (+16.7%), ETC, along with Cosmos, are showing steady growth, confirming the overall recovery trend of the sector.
➡️ Bullish activity on the network: Trading volumes and open interest are increasing. The funding indicator remains positive, and the increase in activity indicates that the market remains on the side of buyers.
➡️ Technical picture: The price is holding above the 30-day ($8.37) and 200-day ($7.66) moving averages. RSI at 56.4 leaves enough room for further upside without the risk of overbought conditions.
📊 Key levels:
Support: $8.41 (50% correction) and $8.28 (61.8%). The $8.00-$8.10 zone acts as the main safety barrier.
Resistance: The nearest target is $8.99. In case of a breakout, the path to $9.31 (11-month high) opens up.
⚠️ Verdict: $ETC shows healthy technical shape. Holding the $8.41 level opens up excellent opportunities for the continuation of the uptrend.
🚀 Ethereum Classic ($ETC ) is preparing for a jump: 3 key factors for traders
Ethereum Classic is showing confident growth (+7.73% in 24 hours, price ~$8.60), ahead of most first-tier altcoins.
🔍 Here's what you need to know about the current state and prospects of ETC:
➡️ Layer-1 altcoin rally: Older blockchains are back in the game. Against the backdrop of a strong jump in Polkadot (+16.7%), ETC, along with Cosmos, are showing steady growth, confirming the overall recovery trend of the sector.
➡️ Bullish activity on the network: Trading volumes and open interest are increasing. The funding indicator remains positive, and the increase in activity indicates that the market remains on the side of buyers.
➡️ Technical picture: The price is holding above the 30-day ($8.37) and 200-day ($7.66) moving averages. RSI at 56.4 leaves enough room for further upside without the risk of overbought conditions.
📊 Key levels:
Support: $8.41 (50% correction) and $8.28 (61.8%). The $8.00-$8.10 zone acts as the main safety barrier.
Resistance: The nearest target is $8.99. In case of a breakout, the path to $9.31 (11-month high) opens up.
⚠️ Verdict: $ETC shows healthy technical shape. Holding the $8.41 level opens up excellent opportunities for the continuation of the uptrend.
