+7.09% for Ethereum Classic as bullish sentiment follows session high

Traders Union
All News
Crypto
Ethereum Classic gains 7.09% to $8.61

Highlights

ETC is experiencing short-term buying interest but remains under persistent long-term bearish pressure, trading well below major long-term resistance.
Technical signals are mixed, with oscillators showing oversold conditions while momentum indicators remain weak or negative overall.
For the next five days, ETC is expected to consolidate between $8.40 and $8.80, with downside risks favored unless momentum shifts bullish.

Mixed momentum signals as resistance nears and volatility increases

Technically, ETC faces immediate resistance at the Ichimoku Kijun level of $8.76. Momentum signals are mixed: MACD and ADX on the daily chart suggest weak or declining momentum, while Stoch RSI and CCI both show oversold conditions, and RSI remains subdued. Bull/Bear Power (BBP) points to seller dominance, but today’s near-session-high action and absence of an open-close gap support renewed intraday buying. Intraday volatility is moderate to high, and the tone is bullish following the open, despite divergence between oscillators and lagging momentum.

Downside risk prevails as weekly indicators stay bearish

For the next five days, ETC is expected to trade within a typical volatility band between $8.40 and $8.80. The probability of a further price increase is very low (less than 20%), with a decrease more likely given persistent weekly sell signals from the MA-50, RSI, ADX, and MACD. The baseline scenario is price consolidation in the $8.40 to $8.80 range. A bullish breakout above $8.76 could allow movement to $8.90–$9.00 if momentum improves, while a bearish move below $8.40 may open downside toward $8.20 amid ongoing longer-term negative trends.

Anton Kharitonov, expert at Traders Union, sees Ethereum Classic showing short-term buying interest but notes that long-term bearish signals dominate. He believes the technical picture is mixed, with momentum waning and resistance strong at $8.76. For now, the base case is consolidation between $8.40 and $8.80, with a low probability of a breakout. "Until Ethereum Classic breaks above $8.76 with real momentum, I remain cautious and expect sideways or lower movement."

Earlier, analysts noted that major crypto markets tend to consolidate and seek clearer direction following significant options expiries and heightened volatility. Current technicals for Ethereum Classic reinforce this cautious outlook, with the prevailing scenario favoring consolidation and a key focus on whether price can hold above the $8.40 support in the coming sessions.

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.