The post Ethereum Classic (ETC) Price Eyes 800% Surge With Bullish Breakout appeared on BitcoinEthereumNews.com.

Ethereum Classic (ETC) price is gaining attention as technical indicators and market data suggest a potential strong upward movement. Analysts project an 800% price increase, with ETC possibly reaching $197 in the coming months. Bullish Elliott Wave Pattern Suggests Strong Price Surge Market analysts have identified an Elliott Wave pattern on the 1-month chart. It indicates that ETC price is currently in Wave IV and preparing for Wave V. Historically, this wave pattern has led to strong uptrends. Source: X The long term up trending channel also supports this bullish outlook with a major resistance at $197. This level can be backed by the support of $11.77 at ETC price. This makes the expectation of a breakout in the market more realistic for a longer period. – Advertisement – The Fibonacci 61.8% extension level aligns with the projected target, reinforcing the potential upside. ETC Price Forms Bullish Pennant on 4-Hour Chart Analyzing the 4-hour time frame of the ETC/USDT chart on Binance indicates the bullish pennant pattern. This means that the current upward trend may be sustained. Bullish pennant usually appears after a rapidly rising price. Then the price forms a triangle pattern of higher resistance lines and lower support lines. If Ethereum Classic breaks above the pennant’s upper trendline, the next resistance level is between $22.50 and $24.00. This range represents the next key level that buyers may need to overcome to confirm a longer-term rally. If the breakout fails, ETC price may consolidate further or retrace to support levels near $19.50–$20.00. Technical Indicators Show Strengthening Buying Pressure This shows that the buying momentum is on the rise since the Relative Strength Index is at 60.49. RSI can be used in this manner, for instance, if the RSI goes beyond 70, it might show that the asset is overbought,…

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Filed under: News - @ February 14, 2025 3:28 pm