Ethereum

Reversal

Ethereum Classic

The post <a href="https://coinpedia.org/price-analysis/etc-price-rounding-reversal-eyes-a-breakout-run-to-30/">ETC Price Rounding Reversal Eyes A Breakout Run To $30</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
With the news of an Ethereum ETF making waves in the market, the Ethereum Classic, a close cousin to Ethereum, bounces back in action. The anticipations rise up with the Standard Chartered Bank hoping for Ethereum ETF approval in May, driving the ETH price higher.&nbsp; 
Moreover, the bullish turnaround creates a price action that may soon act as a bounce pad for the upcoming rally. Under such recovery conditions, will the Ethereum classic price reach the $1000 mark in the next bull run? 
To find answers to such intriguing curiosities, read our complete <a href="https://coinpedia.org/price-prediction/etc-ethereum-classic-price-prediction/">ETC price prediction</a> NOW! 
<h2 class="wp-block-heading" id="h-will-etc-price-exceed-the-escape-velocity-to-cross-30">Will ETC Price Exceed The Escape Velocity To Cross $30?</h2> 
Following a remarkable 53% jump from the critical support trendline, the ETC price takes a pullback to the 50D EMA. Accounting for a 22% drop, the altcoin retests the 50D EMA, leading to multiple lower price rejection candles.&nbsp; 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="464" src="https://image.coinpedia.org/wp-content/uploads/2024/01/31132241/image-178-1024x464.png" alt="" class="wp-image-265721" srcset="https://image.coinpedia.org/wp-content/uploads/2024/01/31132241/image-178-1024x464.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/01/31132241/image-178-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/01/31132241/image-178-768x348.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/01/31132241/image-178-1536x696.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/01/31132241/image-178-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/01/31132241/image-178.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
Source – <a href="https://www.tradingview.com/x/GEj92Q1z/">Tradingview</a> 
With the recent bounce back of 8% over the past two days, the bullish engulfing candles project a rise in momentum. Further, the 82% hike in trading volume supports the recovery trend, increasing the bull run chances.&nbsp; 
Technical indicators: 
MACD Indicator: With a significant reversal in price trend, the MACD and signal line give a bullish crossover. This signifies a high possibility of a continuation of the bullish trend.&nbsp; 
<h2 class="wp-block-heading" id="h-will-ethereum-classic-give-a-bullish-break">Will Ethereum Classic Give A Bullish Break?</h2> 
Following the impressive reversal over the past two days, the ETC price is ready for a rounding bottom breakout. With the neckline of the trend reversal pattern at $26, the buyers are anticipating a breakout entry opportunity shortly.&nbsp;&nbsp; 
If the buyers manage to lift the uptrend, the ETC price may break past $26, then the uptrend could reach $30. Optimistically, a prolonged uptrend can reach the $50 mark if the market sentiments continue to improve. Moreover, catalysts like Ethereum ETF news and the Bitcoin Halving can fuel the bullish trend.&nbsp; 
However, if ETC fails to maintain its momentum, it may break under the $24 level to test the $20 mark.

ETC Price Rounding Reversal Eyes A Breakout Run To $30

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