- Summary:
- The Ethereum Classic price prediction is for a restoration of the recovery move if the bulls take out the descending trendline.
Ethereum Classic has recovered slightly after a series of daily dips. It is presently up 4.24% as the crypto market witnesses a general price recovery on the day. However, the momentum on the bullish side remains low, which may stifle any bullish Ethereum Classic price predictions in the near term.
The ETC/USD is currently trading at the lows seen in late April 2021. Back then, the ETC/USD pair rode a general market bullish wave that took it to its all-time highs. However, after the double top of 15 August and 6 September 2021, things went downhill, cutting the price by 60%.
With the price about to test the descending trendline that connects recent highs, what is the Ethereum Classic price prediction for the short term?
Ethereum Classic Price Prediction
The bounce on the 28.407 support has allowed the bulls a chance at targeting the 33.649 resistance barrier. If this barrier gives way, the recovery could approach 39.142. Above this level, additional bullish momentum takes the price towards the 48.624 resistance.
On the flip side, rejection at the 33.649 resistance allows for a retest of the 28.407 support. If the bears take out this support, then 20.919 and 13.930 become the next logical targets to the south.
ETC: Daily Chart
Follow Eno on Twitter.