Ethereum Classic surges as buyers regain momentum despite long-term resistance

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Ethereum Classic jumps 8.34% to $8.96

Highlights

ETC is displaying short- and medium-term buying momentum but remains under long-term bearish pressure.
Momentum indicators are mixed, with overbought conditions and strong intraday buying but increasing risk of near-term reversal.
ETC is expected to consolidate between $8.10 and $9.20, with upside potential low and downside risk elevated if support fails.

Conflicting momentum signals amid intraday volatility and strong buyers

Momentum signals are mixed: ADX on D1 suggests a build in trend strength while MACD shows a strong sell bias. RSI on D1 indicates mild weakening (47), and Stoch RSI registers overbought conditions — CCI is neutral but leans towards consolidation. BBP points to strong buyer dominance intraday, in line with today's 8.34% push higher from a gap up at the open. The price is near today's high after a highly volatile session, reflecting strength toward the upper end of the intraday range. However, conflicting signals between oscillators and momentum (overbought vs. bullish push) highlight near-term uncertainty.

Downside risk prevails as long-term resistance limits upside

For the next five trading days, the expected range is adjusted to between $8.10 and $9.20 to maintain a typical volatility band relative to current levels. The probability of further upside movement is very low (less than 20%), making a price retreat more likely. In the baseline scenario, ETC consolidates sideways between $8.10 and $9.20. A bullish breakout would require a sustained move above $9.20, while a failure to hold $8.10 could lead to accelerated declines. Overall, the bias is for choppy action with a moderate risk of downside as long-term technical resistance caps rallies.

Viktoras Karapetjanc, expert at Traders Union, sees Ethereum Classic trading with near-term strength but under persistent long-term resistance. He believes mixed momentum signals and overbought readings create a choppy atmosphere. The scenario for further gains is low unless there is a definitive breakout above $9.20. Karapetjanc notes underlying buying demand, but expects sideways movement within the defined range. "Despite today's impressive push, I remain constructive only if support holds above $8.10 and momentum consolidates for a fresh attempt higher."

Earlier, analysts noted that Ethereum Classic remained under persistent bearish pressure, with technical indicators suggesting a continuation of sideways consolidation amid limited prospects for sustained upside. The latest price action, marked by renewed short- and medium-term momentum but lingering long-term resistance, reinforces a cautious outlook in which traders should closely monitor $8.10 as a critical support level for signs of further directional movement.

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

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.