• Ethereum Classic price is trading within an ascending parallel channel.
  • A retest of the lower trend line at $50 is make or break, triggering a massive bull rally or a steep descent.
  • The ascent could push ETC up by 42% to $73.94.

Ethereum Classic price sliced through a crucial resistance level on September 7 and shows no sign of reversal yet. Moreover, a resurgence of buyers around another key barrier could trigger a new uptrend.

Ethereum Classic price approaches inflection point

Ethereum Classic price set up three swing highs and lows since June 22. Connecting these swing points using trend lines results in the formation of an ascending parallel channel. So far, ETC price action has stayed within the pattern’s limits. The September 7 crash pushed the coin below the middle line of the channel and ETC is currently approaching the lower limit at $50.

Assuming an optimistic outlook, a resurgence of buyers around $50 is likely to trigger an uptrend to retest the middle line of the channel. A breach of this ceiling would push ETC up to the $73.94 hurdle, roughly a 47% climb from the $50 barrier.

Slicing through the said blockade would allow Ethereum Classic price to scale to $84.50 and, in a highly bullish case, the $103.04 level.

ETC/USDT 1-day chart

ETC/USDT 1-day chart

While things are hanging in-between for Ethereum Classic price, a bounce from the lower trend line of the parallel channel will hint at a bullish outlook. 

However, if the buyers fail to make a comeback around the $50 support floor, the bears will control ETC.

A breakdown of the $48.41 demand barrier would set up a lower low, signifying a change in trend favoring the sellers. In such a case, the bullish thesis will face invalidation and might knock Ethereum Classic price down to $37.72 and $27.77.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Dogecoin surges to $0.20 as meme coins outperform broader crypto market

Dogecoin surges to $0.20 as meme coins outperform broader crypto market

Dogecoin (DOGE) is rising alongside other major cryptocurrencies to trade at around $0.1990 on Friday. Interest in the largest meme coin is at an elevated level, approaching the highs seen in May, when DOGE rallied to $0.2597. 

Crypto Today: Bitcoin explodes toward $120,000, igniting interest in Ethereum and XRP

Crypto Today: Bitcoin explodes toward $120,000, igniting interest in Ethereum and XRP

The cryptocurrency market is beaming with anticipation of an extended rally, particularly in the price of Bitcoin (BTC), which has skyrocketed this week, hitting a new historical high of $118,870 on Friday. 

Bitcoin Weekly Forecast: BTC hits new all-time high and enters price discovery mode

Bitcoin Weekly Forecast: BTC hits new all-time high and enters price discovery mode

Bitcoin price prints a fresh all-time high near $118,900 on Friday, with bulls eyeing $120,000 as the next key milestone. Corporate and institutional demand remains robust, with spot Bitcoin ETFs recording a total of $1.69 billion this week as of Thursday.

Ethena records double-digit gains amid Upbit listing, Coinbase partnership

Ethena records double-digit gains amid Upbit listing, Coinbase partnership

Ethena (ENA) edges higher by 20% at press time on Friday, printing its fourth consecutive bullish day. The surge in buying pressure could be triggered by the increased volumes from the Korean market after the Upbit listing on Friday. 

Bitcoin: BTC hits new all-time high and enters price discovery mode

Bitcoin: BTC hits new all-time high and enters price discovery mode

Bitcoin (BTC) price prints a new all-time high near $118,900 on Friday, entering uncharted territory as bullish momentum accelerates.

The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

BTC

ETH

XRP