• Ethereum Classic price drop could hit $34.
  • Triple-bottom breakout is the trigger for a monster drop.
  • Very few bullish conditions ahead.

Ethereum Classic price has made little progress over the past week. It has traded higher and back into the Cloud on the daily Ichimoku chart, but it remains lower and faces significant resistance ahead. 

Ethereum Classic price faces -35% drop, watch out below $53

Ethereum Classic price faces some substantial pressure soon. If a new column of Os forms on the $1/3-box reversal Point and Figure chart, bull and bears will want to watch for a return to $54. A return to $54 would form a triple-bottom. The next O below that at $53 triggers the short entry zone.
A Fibonacci expansion drawn from the most recent swing high at $76 to last week's flash crash low at $49 puts the 100% Fibonacci extension at $34. A high volume node in the volume profile exists at $34, so bulls may enter that zone to support Etherem Classic Price.

ETC/USD $1.00/3-box Reversal Point and Figure Chart

Bulls have a hard road ahead if they want to return to a sold bull market.

First, Ethereum Classic price needs to move through the Cloud and break out above the Tenkan-Sen at $60.81, the Kijun-Sen at $62.56 and the top of the Cloud (Senkou Span A) at $64.66. However, the Chikou Span needs to be above the candlesticks. For the Chikou Span to return above the candlesticks, bulls need to push Ethereum Classic above the $70 value area and close at or above $70.

Unfortunately, bulls may have to wait, given the present market conditions and very bearish setup on the daily candlestick chart and Point and Figure chart. 


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended Content

Editors’ Picks

Cardano Price Forecast: ADA profit-taking and dormant wallet activity rise as BTC dips below $100K

Cardano Price Forecast: ADA profit-taking and dormant wallet activity rise as BTC dips below $100K

Cardano (ADA) price hovers around $0.54 on Monday, after falling nearly 15% last week, as tensions in the Middle East escalated following the US attack on Iran. This double-digit correction triggered a wave of liquidation, wiping out a total of nearly $17 million in long positions last week.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – Bears set sight on $98K BTC, $2K ETH and $1.77 XRP

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – Bears set sight on $98K BTC, $2K ETH and $1.77 XRP

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) declined by nearly 5%, 13%, and 7%, respectively, last week as tensions in the Middle East escalated. BTC is nearly at its key support level of around $100,000; a close below this level would trigger further correction.

Top Crypto Gainers Price Prediction: OKB, IP, HYPE post gains, shrug off Bitcoin’s dip to $100,000

Top Crypto Gainers Price Prediction: OKB, IP, HYPE post gains, shrug off Bitcoin’s dip to $100,000

The broader cryptocurrency market experiences a surge in selling pressure as Bitcoin (BTC) dips close to $100,000 at press time on Monday. Against this backdrop, the majority of top altcoins trade in the red while OKB (OKB), Story (IP), and Hyperliquid (HYPE) hold bullish momentum. 

Analysts slap over 90% chance of approval on altcoin ETFs including XRP and Litecoin following SEC's engagement

Analysts slap over 90% chance of approval on altcoin ETFs including XRP and Litecoin following SEC's engagement

Altcoin exchange-traded funds (ETFs) received a boost in approval odds on Friday from Bloomberg analysts James Seyffart and Eric Balchunas, with most of them now having a 90% chance of approval.

Bitcoin Weekly Forecast: The calm before the storm

Bitcoin Weekly Forecast: The calm before the storm

Bitcoin (BTC) price remains steady above a key support level, trading slightly above $106,000 at the time of writing on Friday. The uncertainty looms as geopolitical tensions between Iran and Israel show no sign yet of an exit strategy from either side.

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