Ethereum Classic Displayed Double-Digit Gains; What’s Next!


Ethereum Classic had experienced a sharp fall in price on the 17th January, however, at press time ETC was seen recovering. Over the last 24 hours, ETC had gained close to 7% and was seen trading at $28. In the past week, ETC logged gains of about 17% and had broken past the $25 price mark.

ETC struggled near the aforementioned price level for the past few weeks. However, with close to 17% gains in the past week ETC has now managed to break the downtrend. Bitcoin was bordering $39k at the time of writing. As Bitcoin had climbed up on its chart, major altcoins followed the same price movement.

Price Analysis: ETC/USD Four Hour Chart

Source: TradingView ETC/USD

At the time of writing, ETC was priced at $28. In the past trading sessions, the coin was seen oscillating between $25 and $27 price levels respectively. Immediate resistance for ETC was at $30.31 and additional resistance levels for the coin stood at $34.22 and then at $38.68.

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On the flipside, ETC was resting on the support line of $25.84. For Ethereum Classic to move past the immediate resistance level of $30.31, the coin has to continue to trade above the $28 mark and form higher…



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