- Ethereum Classic breakout confirmed after ETC moved above descending triangle resistance
- Analysts identify $25 as a possible long-term upside target for ETC
- Rising volume and strong technical indicators continue supporting bullish market momentum
Ethereum Classic breakout momentum strengthened this week after ETC moved above a long-term descending triangle pattern on the daily chart. Analyst Jonathan Carter said rising trading volume confirmed the move, signaling growing buyer participation across the crypto market. The breakout shifted short-term control toward bulls, with ETC price now holding above several major technical indicators.
Ethereum Classic Breakout Signals Strengthening Bullish Momentum
According to Jonathan Carter, the Ethereum Classic breakout could open the door for a broader trend reversal. Descending triangles are typically bearish continuation patterns, making the upside breakout especially notable for traders.
The analyst identified multiple upside targets if bullish momentum continues. Key resistance levels include $9.90, $11.50, $13.50, $15.00, $17.00, $20.00, and eventually $25.00.
Carter also emphasized the importance of a successful retest. Traders often watch whether former resistance levels flip into support after a breakout. Failure to maintain support above the broken trendline may increase the risk of a false breakout scenario.
The TradingView chart showed ETC breaking above long-term descending resistance after an extended accumulation phase. Increased daily volume also supported the move, indicating stronger market conviction behind the rally.
Ethereum Classic Breakout Holds Above Key Technical Indicators
Several technical indicators continue supporting the Ethereum Classic breakout narrative. On TradingView, the ETC price remains above the 200-day exponential moving average, often viewed as a long-term bullish signal.
Short-term momentum also remains positive. The 20 EMA currently trades above the 50 EMA, reflecting improving trend strength across multiple timeframes.
Meanwhile, the Relative Strength Index approached 69 during the rally. Although momentum appears strong, the indicator has not yet entered overbought territory. MACD histogram readings also remain above the zero line, reinforcing bullish market structure.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
