Ethereum Classic price analysis: ETC/USD moves breaks past major resistance level, up 4% on Monday

Ethereum Classic price sustained upside gains to trade high of $21.66.
The general trend in the market is bullish while resistance level remains at $21.66.

John Isige FXStreet

Ethereum Classic has opened trading on Monday in a bullish trend. The currency is up by 4% in the day’s trading after ups and downs during the weekend. Ethereum classic price traded lows of $19.5 but managed to gain momentum and push past the $20 major resistance level. The price sustained the upside momentum and traded highs of $21.66 representing more than a single digit increase in price.

The price has been trading in lock-step since the start of the trading session this week and has found support at the $20 level which acted as a resistance level during the recent price recovery on the weekend. Currently, Ethereum Classic is exchanging hands at $21.11 after testing the support level once.

Ethereum classic price is trading below the 100-simple moving average on the intraday chart. The general trend in the market is bullish while the resistance level remains at $21.66. On the downside, the support level has been tested once, if the price breaks below the support, Ethereum Classic could experience losses in price heading towards the $15 level.

ETC/USD price intraday chart

Author

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

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