- Ethereum Classic broke out after nearly two years of consolidation, targeting a 510% rise to the $127.65 level.
- The 150-day EMA at $19.65 now serves as support, confirming the structure and attracting bullish interest from market participants.
- Rising volume and MACD alignment suggest Ethereum Classic may begin a strong uptrend if momentum sustains above key moving averages.
Ethereum Classic (ETC) is gaining market observation after breaking out of a long-term downtrend. The move signals potential for substantial upside.
Ethereum Classic Breakout Pushes Toward $127.65 Target
Ethereum Classic has broken past a descending resistance line after nearly two years of sideways consolidation. The breakout was accompanied by a strong green candle and increased volume, suggesting growing buying pressure. The price now trades around $19.90, with a 24-hour volume of $157.3 million.
A recent tweet from AVONMARKS highlighted the bullish structure and projected a target of $127.65—over 510% above the current level. The chart shows a clean technical runway with minimal resistance between the current price and the target area. If momentum holds, ETC could enter another explosive cycle similar to past rallies.
ETC recently closed above the 150-day EMA at $19.65, signaling a positive shift in structure. The price briefly touched $20.80 before pulling back near the EMA. This area is now viewed as potential support and a critical retest zone for validating the breakout.
Support at 150-Day EMA Gains Importance
The $19.50–$19.65 range is now a key zone for Ethereum Classic. Holding this area could provide bulls a base to re-enter and drive prices higher. The 150-day EMA has historically served as both resistance and support, making this retest important.
A successful bounce could see Ethereum Classic target intermediate levels around $24 to $28. Failure to hold this support may delay further upside. However, as long as the price stays above the EMA, the structure remains bullish.
Volume remains elevated, and the MACD indicates building momentum. The MACD line is above the signal line, and rising green histogram bars point to ongoing strength. A brief consolidation around the EMA is expected, but structure remains intact.
Momentum Builds Amid Technical Breakout
Ethereum Classic has gained over 23% in the last seven days as of writing despite a recent daily dip of 2.03%. The bullish setup is driven by both technical structure and market behavior. The breakout above long-term resistance and sustained movement above the 150-day EMA provide support for a continued move higher.
The chart structure and volume suggest Ethereum Classic may be preparing for a vertical push if current levels hold.
