ETC Technical Analysis Report | 28th-December-2023


Despite the overall bullish trend in the crypto market, ETC has displayed modest performance since the end of October. While trading activity has surged on various networks, driven by the demand for spot crypto ETFs, Ethereum Classic has maintained a decent market performance. Ethereum Classic originated as a distinct blockchain platform, stemming from a disagreement over the rollback of transactions. Its community adheres to the principle of ‘code is law,’ emphasising the immutability of smart contracts. The ETC token serves as the native currency fueling the Ethereum Classic platform.

At the time of writing, ETC was trading at $22.62

Ethereum Classic Thursday Daily Chart-28th Dec 2023
Ethereum Classic (ETC) Chart

ETC after taking multiple support at $14.5 started moving in and uptrend. The prices surged almost by 60% and rallied up to $23.42.Post this move, the asset faced resistance at higher levels and it witnessed some profit booking. ETC is taking good support at its upsloping trendline and lower longer shadow indicates buying at the dips. However, $24 to $25 will act as a strong resistance and to further rally, the asset needs to break. Close and sustain above the resistance.

Key Levels:

  Support 2Support 1AssetResistance 1Resistance 2

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