|

Ethereum Classic price acts numb to bullish undertone in crypto as it looks to fall 10%

  • Ethereum Classic price is unable to bank on the bullish tone in cryptocurrencies.
  • ETC is set to slide below $20 later today if this course continues.
  • Expect to see another leg lower as ETC could slip below $19.

Ethereum Classic (ETC) price is a bit of an outlier in the altcoin space as it appears to be one of the few coins out there unable to enjoy the bullish wave that is sweeping up price action higher in cryptocurrencies. It even appears that ETC is stuck in a bearish trend channel and could be set to tank lower as bearish forces remain clearly in control. Once $20 breaks, it looks inevitable that ETC will start to tread water below $19.

Ethereum Classic price has bears allocating resources to it

Ethereum Classic price is under the scrutiny of the bears as price action is not showing many prospects of popping higher anytime soon. While several altcoins and cryptocurrencies are increasing, ETC traders are left empty-handed. Expect those traders to start allocating their money to those coins that have been performing with XRP as the frontrunner to get the most cash inflow as ETC bleeds.

ETC will see a small cash exodus occurring with price action to sprint lower. Once $20 is being breached, a quick cycle lower could see $19 at the monthly S1 and the lower barrier of the trend channel as support. A quick false break could not be unthinkable as seen in the past with more than a10% loss at hand.

ETC/USD  4H-chart    

ETC/USD  4H-chart    

With several altcoins and cryptocurrencies having performed explosively in price action, many traders might stay away from them now as price levels are too elevated and too risky to get involved in. That would mean that lagging altcoins see an interest coming in at some delay. ETC would see substantial inflow once it breaks out of the descending trend channel and could hit $25 quite quickly with a 20% gain nearby.

Author

Filip Lagaart

Filip Lagaart is a former sales/trader with over 15 years of financial markets expertise under its belt.

More from Filip Lagaart
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is.  Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).

Sberbank issues Russia's first corporate loan backed by Bitcoin

Russia's largest bank Sberbank launched the country's first Bitcoin-backed corporate loan to miner Intelion Data. The pilot deal uses cryptocurrency as collateral through Sberbank's proprietary Rutoken custody solution.

Bitcoin recovers to $87,000 as retail optimism offsets steady ETF outflows

Bitcoin (BTC) trades above $88,000 at press time on Tuesday, following a rejection at $90,000 the previous day. Institutional support remains mixed amid steady outflow from US spot BTC Exchange Traded Funds (ETFs) and Strategy Inc.’s acquisition of 1,229 BTC last week.

Traders split over whether lighter’s LIT clears $3 billion FDV after launch

Lighter’s LIT token has not yet begun open trading, but the market has already drawn a sharp line around its valuation after Tuesday's airdrop.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.