ETC(ehereum classic) chart analysis and bullish signal

l’altro ieri

Ethereum Classic is currently attempting to break above the 200-period moving average, a key resistance level, and a major supply zone on the 4-hour chart. Although it’s facing resistance at the moment, a decisive breakout through these overlapping resistance zones could provide an attractive long-entry opportunity with a favorable risk-to-reward ratio.

Given that this resistance area has rejected multiple breakout attempts in the past, the probability of a successful breakout this time appears relatively high.

The ETC/BTC chart has also cleared several major resistance levels, suggesting that ETC could follow a similar pattern to recent strong performers such as ZEC, DASH, and 1INCH.

The bullish alignment on the ETC/BTC chart also indicates that Ethereum Classic is outperforming Bitcoin.

If Ethereum Classic confirms a breakout above the resistance zone, I will share an updated analysis on the subsequent price outlook.

l’altro ieri

Trade attivo

It's right before breaking through the resistance zone.

ieri

Nota

A stronger-than-expected rally has occurred, showing clear signs of solid buying pressure on ETC. The previous key resistance zone is now likely to act as a strong support level, and if the price retraces toward this support area, it could present an attractive opportunity for a long position.
I’ll provide an update if further movement occurs.
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support level

ieri

Trade chiuso: obiettivo raggiunto

Having reached the support zone, I am now executing the first of three planned partial entries for a long position.