Ethereum Classic (ETC) price has been bouncing off a key support level since December 2022 and currently trades around it. The ongoing consolidation w
Ethereum Classic price ranges between a high time frame range, extending from $14.70 to $27.73. The daily chart showcases a descending triangle setup, forecasting a near-30% move. Confirmation of an uptrend will arrive on the flip of the $15.91 hurdle into a support floor. On the contrary, a breakdown of the $14.70 support floor could trigger a 30% correction to $10.36. ill provide a good risk-to-reward ratio for traders as it forecasts a near-30% breakout move.
Considering the Relative Strength Index’s position above the 50 level on the daily timeframe, the chances of an upward breakout are high. Additionally, the weekend rally has pushed many investors to believe that the bull run is here. With these points in mind, a decisive daily candlestick close above $15.91 will confirm a bullish breakout. Adding the 29% distance between the first swing high and swing low to the aforementioned breakout level reveals a target of $20.59. Interestingly, the $14.
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