Ethereum Classic is exhibiting an upward momentum from more than a month. The traders can dig-in as the technical indicators are pointing towards a prosperous period ahead. The current movement in the ETC is quite impressive. The chances of breaching the $8 are ripe than ever. The investment in the currency wouldn’t go futile.
ETC Eyes $10 After Forming Bullish Triangle
The price of Ethereum Classic (ETC) was spotted hovering around $4.4 at the beginning of this year. The currency was trading under bullish pressure as it registered continual upside movement, and over the next 30 days, the ETC price crossed $11 price mark and touched $11.47. Later, with a slight decline, it again managed to gather pace and traded to $13.4 within the first week of February. However, from this high, the currency faced downside correction and closed the month around $8.
March began on a negative note as Ethereum Classic price continued the downside movement till March 13. However, after that, the coin started gathered upside momentum and reflected improvement. The ETC coin traded with the uptrend and registered a higher low pattern. Since the beginning of April, the currency cooled down its pace but still holds the upside momentum and formed an upside triangle. At the time of writing this analysis, the price spotted at $5.71.
As per the MACD indicator, the histogram reflects bullish signals as the signal line trades below the MACD line with the moderate gap between them. If the price of Ethereum Classic breaches the immediate resistance level at $8.2, then as per ETC price prediction, it can easily trade up to $10 in the near-term. However, if the coin realizes pressure in the later days, then the currency holds strong support at $2.24.
