The price of the Ethereum Classic [ETC] comes from a wedge crossing pattern. ETC is likely to get a 20% increase to $55.74, However, a break of the $44.07 support platform will disable the bullish thesis.
The price of the Ethereum Classic is at a relaxing level and could start big. However, there is a strong resistance level that attacks the ETC route that will be taken. Therefore, investors need to look back on the area, surrounding ETC.
Price Of Ethereum Classic Ready For Next Launch
The price of the Ethereum Classic has been set above more than three split highs and four lows since September 16. Connecting the slope lines with these swing points indicates the formation of a falling lump.
This technical construction has a bullish break and predicts a 20% increase, which is determined by measuring the distance between the initial rotation up and down. Adding this amount to a break at $ 46.26 reveals a theoretical target of $ 55.74.
5 Days Ethereum Classic Price Chart – Source: Is It A Good Time To Invest In Ethereum Classic Now?
However, this move will face a major hurdle at $ 51.33, the high of Sept. 24. Therefore, buyers must overcome this barrier in order to have access to the intended target.
Clearing this offer will open the way to try again at $ 55.74. In some cases, the ETC may go up and again hold the September 16 high of $60.08.
On the other hand, if the price of the Ethereum Classic fails to close above $ 46.26, it will raise the potential for development. Such improvements could lead to a return to the $ 44.07 subsidy level and could offset the increase.
If the ETC produces a clear closure under this platform, it will form a low-key and ineffective bullish thesis. If sales pressure continues to mount, market participants can expect the return of the next support barrier to $ 41.43.