Ethereum Classic (ETC) is currently capturing attention with a notable surge in value, demonstrating a strong bullish sentiment across multiple analytical timeframes. Despite a generally volatile cryptocurrency market, ETC has exhibited resilience and upward momentum, pointing towards potential further gains in the near future.
Immediate Price Action and Short-Term Targets
ETC has seen a significant uptick, recording a 3.15% increase over the past 24 hours and trading at approximately $12.84. Technical analysis of the hourly chart indicates a persistent bullish trend. Should this buying pressure continue and the daily trading bar successfully close near its current resistance, analysts suggest that the cryptocurrency could advance towards the $13 price level in the immediate term.
Mid-Term Outlook: Targeting Higher Resistance
Beyond the short-term fluctuations, broader market perspectives also underscore a robust buyer presence for Ethereum Classic. If the current weekly candle maintains its position or closes higher, traders could anticipate a test of the $13-$13.50 range within the upcoming week. Crucially, from a midterm standpoint, ETC has effectively bounced off its key support level at $11.47. A sustained weekly close well above this support mark significantly increases the likelihood of a local rally, potentially pushing the altcoin into the $13-$14 zone by the end of the month, reinforcing a positive outlook for its trajectory.
