- Ethereum Classic majestically breaks the stubborn resistance at $12.00 and climbs to new 2020 highs.
- According to the technical levels, Ethereum Classic is ready for a rally targeting $15.00.
Ethereum Classic has not broken the bullish streak since last Friday. Besides, it is the best performer among the major cryptocurrencies on the market. ETH has a market value trading 8.45% higher from the opening value of $11.42. The pulls have in the last few days fixated their focus on breaking the resistance at $12.00. At the time of writing, ETC is exchanging hands at $12.35. The existing trend has remained bullish but the low volatility hints that only minor movements can be made upwards.
Ethereum Classic technical picture
Now that the stubborn resistance is in the rearview, ETC bulls are shifting their focus to $15.0. Technical indicators like the RSI and the MACD display a positive picture, especially in the short term. If the price ignores the oversold conditions and the RSI continues with the upside movement, ETH is likely to break above the immediate hurdle at $13.00. On the other hand, the MACD cements the bulls’ presence in the market by moving higher within the positive territory. The bullish cross has also stayed intact since the beginning of January (on the daily chart).
In the case of a reversal under $10.00 we can expect support from the ascending trendline, $8.00, the 50 SMA, the 100 SMA as well as $3.00.
ETC/USD daily chart
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