Ethereum Classic (ETC) is gaining market observation after signaling a new cycle following a prolonged consolidation phase.
Ethereum Classic Breakout
Ethereum Classic has broken past a descending resistance line after nearly two years of sideways consolidation. This move was accompanied by a strong green candle and increased volume, suggesting growing buying pressure. The current price is around $19.90, with a 24-hour trading volume of $157.3 million.
Support at 150-Day EMA
The $19.50–$19.65 range marks a key zone for Ethereum Classic. Holding this area could provide bulls a base to re-enter and drive prices higher. The 150-day EMA has historically served as both resistance and support, making this retest critical.
Building Momentum and Potential
Ethereum Classic has gained over 23% in the last seven days despite a recent daily dip of 2.03%. Both technical structure and market behavior support this bullish sentiment. The breakout above long-term resistance and sustained movement above the 150-day EMA provide a solid foundation for continued upward momentum.
Current chart structure and trading volumes suggest Ethereum Classic may be preparing for a vertical push if the support levels hold.
