Ethereum Classic Price Prediction: Chart Breakout Signals Critical Resistance Test
Highlights:
- The Ethereum Classic price surged 9.45% after reclaiming crucial support zone.
- On-chain metrics remain weak despite strong price breakout momentum.
- Resistance near $22.50 could determine ETC’s next significant move.
Ethereum Classic (ETC) is now resoundingly breaking through its downward trend to reclaim crucial support levels. It’s showing a price increase towards the upper levels of a key resistance interval.
The breakout has rekindled new interest. This is especially since the move cuts across a past streamed price pattern discussed in a graphical trader’s tweet.
Strong Intraday Reversal and 9.45% Rally
The market witnessed a textbook reversal from the trader’s 45-minute intraday chart as Ethereum Classic broke through the $15.60–$16 level. A precise bullish shape appears in the setup, price action confirms resistance rejection, and the price is bought higher.
The move resulted from the price breaking above a previous offset level. Price breached a past demand line, held firm within this area, and rose.
The rise from around $16.10 to $17.64 is a significant 9.45% growth in a short time frame, showing that the consolidation band has been broken. Now, the market is under the sensitive resistance area at approximately $17.70, which was a turnaround point on intraday trades. This could mean further gains because it illustrates an increasing trend.
Daily Structure Points to Key Resistance Retest
The latest picture in the daily chart showcases ETC exiting an extended descending channel through Q1 2025. Recovered the $20 threshold, ETC is heading to the main resistance band between $21.50 and $22.50. A greater resistance region follows this toward the $28–$30 zone.
MFI at 73.78 reflects massive money inflows in a market nearing overbought status. When looking in retrospect at past price surges, it’s worth noting that instances when MFI numbers reached such levels were usually followed by short periods of consolidation. These scenarios prepared the ground for continuing momentum or reversals.
Volume Delta history supports the bull case, reflected through positive net flow (22.3K) and green candle dominance, which further buys interest after accumulation.
Although Ethereum Classic enjoys price jolts, its on-chain infrastructure is still immature. According to DeFiLlama (second image), ETC’s TVL in decentralized finance has touched $321,4. The current market cap for stablecoins is $71,489, and chain fees are at a truly low $26 per day.
Schwached DeFi engagement reinforces ETC’s paucity of engagement within the larger world of decentralized finance, where, compared to EVM-compatible chains, ETC has a relatively sheltered position.
Based on CoinMarketCap data, the ETC price stood at $20.17 as of press time, with a market capitalization of $3.06 Billion and a fully diluted valuation of $4.25 Billion. Trading over the last 24 hours has reduced by 29.20%, leaving the trading volume at $130.17 Million.
The observed decline in volume indicates the lack of solid follow-through momentum, despite the increase in price within recent months.
The technical emphasis should be on areas where set levels of resistance and contemporary price rebounds originate. An operative upward move into the $21.50–$22.50 zone is still technically possible, with support above $19.80–$20.20.
Still, if price enters such areas and fails, short-term profit-taking might occur because of insufficient on-chain support.
While impressive and in line with expectations, the rally from the $15.50s to the current price still keeps the broader narrative solid in its assertion of the indestructibility of old resistance points of past bull cycles.
Specifically, the $28–$30 level has already acted as a strong ceiling in past phases of strong upward momentum. The barrier can remain an effective long-term ceiling unless such key measures as TVL, dApp participation, and chain revenue indicate a steady increase.
