- Ethereum Classic (ETC) jumps 18% in the past week, showing strong bullish momentum.
- ETC nearing the end of its compression phase, signaling potential for a major price surge.
- Short-term target of $50, mid-term goal of $65, and long-term target of $145.
Ethereum Classic (ETC) is showing strong bullish momentum, with the cryptocurrency aiming for significant price gains. Over the past week, ETC has surged nearly 18%, reflecting its growing strength in the market.
As Ethereum (ETH) continues its upward trajectory, gaining in value, it is setting the stage for altcoins like Ethereum Classic to reach new heights. Bitcoin (BTC) is also on a strong bullish run, establishing new all-time highs (ATH) and further fueling a bullish wave across the crypto space.
As of today, the price of Ethereum Classic stands at $26.66, with a 24-hour trading volume of $982.84 million. The coin has a market capitalization of $3.99 billion, and its market dominance is 0.12%. In the last 24 hours, ETC has seen a 4.12% price increase, further bolstering investor confidence in the coin’s potential for growth.
Ethereum Classic Eyes a Major Price Surge
Ethereum Classic’s bullish outlook is becoming clearer as the cryptocurrency nears the end of its compression phase, which is often seen as a precursor to major price movements. With resistance levels at critical points, including the confluence of descending resistance and mid-resistance, ETC is expected to break through these barriers soon, marking the start of an unstoppable price surge.
Crypto analyst Alex Clay pointed out that the completion of this compression phase could trigger a significant upward movement for Ethereum Classic. The key levels to watch are the mid-term target of $50, followed by $65, and a long-term target that could reach as high as $145.
Ethereum Classic’s performance is being closely watched by market participants, with the overall bullish sentiment in the crypto market adding fuel to its rally. As Bitcoin continues to set new ATHs, Ethereum Classic’s momentum could carry it to even greater heights, making it one of the more exciting altcoins to watch in the coming months.
Investors and traders alike are eager to see if Ethereum Classic can maintain its bullish trajectory and break through the resistance points that have kept it in check. A surge in market confidence could be just the beginning of a major price rally for ETC.
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