Ethereum Classic price prediction: Approaching $7.77 resistance? ETC gains 7.8%

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Ethereum Classic up 7.8% to $7.6 today

Highlights

ETC/USD exhibits strong short- and medium-term upside momentum, yet long-term trend remains under bearish pressure.
Mixed momentum signals and overbought oscillators flag heightened risk of a short-term pullback despite robust intraday gains.
Near-term price likely consolidates between support at $7.195 and resistance at $7.772, with breakout risk skewed upward.

Divergent timeframes as overbought signals clash with trend uncertainty

On the H1 chart, ETC is trading above the MA-20 and MA-50 but remains below the MA-200, indicating mixed momentum across timeframes. The Ichimoku Kijun level at $7.195 serves as immediate support. Momentum indicators are mixed: the MACD is signaling Buy while the ADX reads Neutral, showing present but uncertain trend strength. RSI is elevated at 63.57 (Buy), with both Stoch RSI and CCI in overbought territory, suggesting conditions ripe for a short-term pullback despite intraday buyer dominance as shown by positive BBP and supportive movement in the Awesome Oscillator.

Breakout risk grows as consolidation defines near-term outlook

Looking ahead, ETC is likely to consolidate within a typical volatility range of $7.22 to $7.77 over the next trading day. Probability for a continued advance is very high (over 80%), with the potential for a breakout above the resistance near $7.77 leading to further upside. A downside scenario would require a breach of immediate support at the Kijun level ($7.195), which could open the way toward the lower end of the forecast range. Near-term price action is expected to remain choppy, with consolidation as the baseline scenario.

Viktoras Karapetjanc, expert at Traders Union, sees Ethereum Classic maintaining strong upward momentum despite mixed signals across technical indicators. With no major news influencing sentiment, price action is being driven by trader positioning and short-term volatility. Karapetjanc believes the backdrop favors further gains and consolidation above support. He remains constructive on ETC in the near term. "With upside momentum intact and volatility on our side, I expect ETC to test higher levels as long as support at $7.195 holds."

Earlier, analysts noted that Ethereum Classic was exhibiting strong short-term momentum, with expectations for continued consolidation amid heightened volatility. The current technical setup reinforces this outlook but with a greater likelihood for an upside breakout, highlighting the $7.77 resistance level as pivotal for the next directional move.

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.