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The post <a href="https://coinpedia.org/price-analysis/ethereum-classic-price-faces-repeated-rejection-whats-next-for-etc-price/" rel="noopener noreferrer nofollow">Ethereum Classic Price Faces Repeated Rejection! What’s Next For ETC Price?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The Ethereum Classic price continues to display strong bearish moves, indicating increased selling-over-buying pressure in the crypto industry. Moreover, the ETC price struggles to break out of its key resistance level, suggesting a bear power in the crypto space.
The <a href="https://coinpedia.org/price-prediction/etc-ethereum-classic-price-prediction/" rel="noopener noreferrer nofollow">ETC price</a> traded in a closed range between $20.32 and $21.94 for a while, following which the market gained momentum and the Ethereum Classic price gained just enough momentum to break out of the resistance level.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/71rwPNtvN5f2pF3rGvISZ5B3UkocSfxVW0vz9d4nqYlJVaH_PDfrcxTk34AQeNnzixNNjg3VSn5_yBa16FrW1P1G0QjGJSEUU9Xmj-6Ks4CN6aeYlBC1quagLmGTlLm8fbi9cs_EG26ZT923UEnjb4M" alt="Ethereum Classic Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: ETC/USDT
 </figcaption>
</figure>
However, the rally was short-lived as the price faced rejection at $23.45, after which it traded sideways for a while. As the market volatility grew, the price experienced a correction of approximately 20%. The price traded between $18.77 and $20.32 for five days.
Following the approval of the Bitcoin Spot ETF trading, the ETC price recorded a massive jump of 66% in valuation within the next three days. After facing rejection at $31.23, the price has been constantly traded under a bearish influence and has lost over 30%.
The ETC coin tested its important level of $21.94, but the bulls held the price strong, resulting in a price breakout. Since then, the price has been trading in a range between $23.45 and $25.04.
<h2 class="wp-block-heading" id="h-will-etc-price-regain-value">Will ETC Price Regain Value?</h2>
The technical indicator, MACD, displays a neutral trend, indicating a weak buying and selling pressure in the market. Further, the averages show a flatline, suggesting an uncertainty in the future price action of this token.
If the bulls regain power, the price will gain momentum and test its resistance level of $25.04. Moreover, if the market continues to trade positively, it will prepare to test its upper resistance level of $26.43 in the coming time.
Negatively, if the market fails to hold the price above the support level of $23.45, the price will lose momentum and fall to test its lower support level of $21.94. Further, if the bears hold power over the bulls, it will plunge further and prepare to test its support level of $20.32.

Ethereum Classic Price Faces Repeated Rejection! What’s Next For ETC Price?

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