ETC/USD Prepares for $30 Resistance

The Ethereum Classic price prediction shows that ETC is getting ready to cross above the upper boundary of the channel after a rapid retracement.

Ethereum Classic Prediction Statistics Data:

• Ethereum Classic price now – $24.4
• Ethereum Classic market cap – $3.3 billion
• Ethereum Classic circulating supply – 139.1 million
• Ethereum Classic total supply – 210.7 million
• Ethereum Classic Coinmarketcap ranking – #22

ETC/USD Market

Key Levels:

Resistance levels: $30, $32, $34

Support levels: $19, $17, $15

ETC/USD is currently recovering above the opening price of $23.1 and it is likely to climb above $25 soon. Meanwhile, the Ethereum Classic price is now trading above the 9-day and 21-day moving averages as bulls begin to dominate the market.

Ethereum Classic Price Prediction: ETC Could Reach $30 Level

The Ethereum Classic price may remain above the 9-day and 21-day moving averages. If ETC/USD breaks above the upper boundary of the channel, it could visit an important resistance at $26. However, a successful break above this level could open another increase above the $28 level. The price is likely to rise toward the $30, $32, and $34 resistance levels in the next positive direction.

As the technical indicator, Relative Strength Index (14) moves to cross above the 70-level, the market may soon break to the upside but crossing below the 9-day and 21-day moving averages could touch the $22 support. The next major support is toward the lower boundary of the channel, where the bulls are likely to take a strong stand but any further losses could lead the price to $19, $17, and $15 support levels.

When compares with Bitcoin, the Ethereum Classic price is now moving above the 9-day and 21-day moving averages as the market keeps heading toward the upper boundary of the channel. Meanwhile, the technical indicator Relative Strength Index (14) is likely to cross above the 60-level which could be a bullish movement confirmation.

However, if the price breaks above the upper boundary of the channel, bulls might push the market back to the resistance level of 1100 SAT. Moreover, if the price stays above this barrier, traders may expect an immediate resistance at 1200 SAT and above. On the other hand, crossing below the 9-day and 21-day moving averages may locate the support level at 850 SAT and below.

Ethereum Classic Alternatives

At the moment, while there have been speculations that the current upward movement of the Ethereum Classic is a bull trap, the crypto is still showing strong fundamentals which suggest the price may continue to rise. On that note, Having only launched in mid-January, the MEMAG presale has sold more than 50% of its presale allowance, and over $2.7 million has been raised in the presale. Therefore, Traders are expected to secure their place in the metaverse to be part of the MEMAG family.

View the latest ETC price on CoinCodex.

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