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The post <a href="https://coinpedia.org/price-analysis/ethereum-classic-price-stumbles-again-will-etc-price-retest-its-low-soon/">Ethereum Classic Price Stumbles Again! Will ETC Price Retest It’s Low Soon?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The cryptocurrency market records a red trading day as the top cryptos undergo significant price correction. Further, the Ethereum Classic price has lost over 10% in value within the past 24 hours, making it one of the top losers for the day. 
The <a href="https://coinpedia.org/price-prediction/etc-ethereum-classic-price-prediction/">ETC price</a> traded in a closed space between $16.63 and $17.71 for a week, following which the price gained momentum, resulting in a breakout. The rally was short-lived as the price faced rejection at $18.94, after which the price displayed a sideways trend for a while. 
As the bulls gained power, the price broke out of its resistance level and jumped 15% before facing rejection at $21.62. The price then started recording lower highs, resulting in it trading in a descending channel pattern. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/zOcG_dSgwEIAzpFnzaH1LKRpqn07rPJPFvExA7V6DoPmJZIMkwykQ7N8sX86270aLgUXlM8X_S8wtWGJhmzRBwEuRKiC4HO8CCJmKTJbZJEAHRmhBe7NeLrM3gtYCX_s2CrtD3HcOUMjnS14ssh7lxM" alt="Ethereum Classic Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: ETC/USDT
 </figcaption>
</figure> 
After trading in a consolidated range between $17.71 and $20 for over two weeks, the bulls regained power and broke out of the range. The ETC price jumped 12.5% in value before facing rejection at its important resistance level of $23.45, indicating a strong liquidation point at that level. 
The bulls then lost momentum and started trading under a bearish influence and have recorded a correction of over 13% in value since its top. 
The technical indicator, MACD, displays a rising red histogram, indicating a stronger selling-over-buying pressure in the market. Further, the averages show a sharp fall in the chart, suggesting the price will continue experiencing a correction in value in the coming days. 
<h2 class="wp-block-heading" id="h-will-etc-price-rise-again">Will ETC Price Rise Again?</h2> 
If the bulls hold the price above the support level of $20, the price may regain momentum and prepare to test its resistance level at $21.62. Further, if the bulls hold the price at that level, it will set the stage for the Ethereum Classic price to test its upper resistance level of $22.50 in the coming days. 
Conversely, if the bears continue to gain control over the market, the price will fall and test its support level of $18.94. 
Moreover, if the bears continue to dominate the market, the ETC price will plunge further and make a run to test its lower support level of $17.71 by the weekend.

Ethereum Classic Price Stumbles Again! Will ETC Price Retest It’s Low Soon?

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