Buying pressure lifts Ethereum Classic higher in today trading

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Ethereum classic surges 10.37% today

Highlights

Ethereum Classic (ETC) surged over 10% to $9.15, trading above the MA-20 ($8.55) but below the MA-50 ($10.44) and MA-200 ($15.30).
Momentum indicators on the daily timeframe are mixed, with MACD and ADX showing strong bearish trends while RSI and CCI remain in oversold territory.
Weekly indicators signal a high probability of further decline, with expected range at $6.79–$8.18 and a key resistance level at $10.44.

Anton Kharitonov, expert at Traders Union, views the current upward momentum in Ethereum Classic (ETC) as fragile. He highlights that the price is above short-term averages, but medium and long-term technicals remain decisively bearish. Kharitonov notes daily momentum metrics such as the MACD and ADX confirm dominant selling, with oscillators in oversold territory and little bullish confirmation from key indicators. The recent volatile rally does not align with fundamental catalysts, and news flow remains completely absent on the target dates, further undermining confidence. "Without structural shifts or positive news, I see this rebound as a classic bull trap within an ongoing downtrend."

Viktoras Karapetjanc, expert at Traders Union, emphasizes the constructive setup emerging after ETC's double-digit intraday surge. He points to growing buyer interest on intraday timeframes and the price holding above dynamic support near $9.01 as signs that bullish structure remains intact despite the weak macro and lack of news. Karapetjanc believes that, while short-term volatility is high, the current positioning presents new opportunities for breakout traders. He is confident that upside scenarios could materialize quickly if the $10.44 resistance is breached. "Further growth is expected if momentum persists — the market offers multiple reversal setups from current levels."

Mixed momentum as volatility surges against bearish signals

The closest dynamic support is around the Kijun level ($9.01), with resistance likely at the MA-50 ($10.44). Momentum indicators on the daily timeframe remain mixed. MACD and ADX both indicate a strong bearish trend, with the MACD in “strong sell” territory and an elevated ADX value. RSI and CCI are in oversold zones, highlighting underlying seller dominance, while Stoch RSI suggests a neutral stance despite intraday overbought readings. Bull/Bear Power remains in oversold territory, but intraday timeframes are showing growing buyer interest. The Awesome Oscillator points neutral, not confirming the broader trend. Today, ETC surged over 10% to $9.15, with only a small gap between the previous close and today's open, and the price is at the upper end of the daily range — indicating high volatility and clear strength building towards session highs. Notably, intraday oscillators diverge from daily and weekly momentum, which suggests the day’s strong rally may be running ahead of underlying longer-term signals.

Previously it was reported that Ethereum Classic has rebounded above its 20-day moving average amid oversold RSI and persistent bearish MACD readings, but remains well below its 50-day and 200-day moving averages, reflecting dominant mid- and long-term selling pressure. Immediate resistance is seen at $9.01, with downside risk prevailing as technical indicators confirm continued seller control and limited probability for a sustained recovery.

Source of Data: ETC Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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