ETC Technical Analysis Report | 12th-January-2024

Following the approval of the US Bitcoin ETF, altcoins have experienced a robust rally, overshadowing Bitcoin’s relative stability. Notably, Ethereum witnessed a 10% surge, but Ethereum Classic (ETC) outperformed with an impressive 32% gain, reaching $27.74 and boasting a market cap of $4.05 billion. ETC’s price surge has propelled it beyond the $26 mark for the first time since October 2022, and the substantial increase in trading volume indicates significant interest from major traders.

At the time of writing, ETC was trading at $27.98.

ETC Technical Analysis-12th Jan 2024 — Ethereum Classic (ETC) Chart

ETC was trading in a range from $14.5 to $17.25. The asset after taking multiple supports at $14.5 finally broke the range on the upside and the prices surged almost by 99% up to $28.88. ETC has a strong resistance at $30.5 and to further rally it needs to break, close and sustain above this level, whereas $24.5 will act as a strong support for the asset.

Key levels:

Support 2	Support 1	Asset	Resistance 1	Resistance 2
$18.25	$24.5	ETC	$30.5	$35.75

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