- •ETC finds support near $17–$18, a key demand zone aligned with major Fibonacci levels.
- •Price holds within an ascending channel,with a broader bullish trend.
- •Strong bounce backed by volume increase hints at upside potential toward $28 and $32.
Ethereum Classic (ETC) is gaining traction again, trading at $19.85 after a solid 4.64% daily jump. With an 8.38% weekly rise and strong support near $17–$18, momentum is building toward the next targets at $28 and $32.
ETC Finds Strong Support at Key Zone
Ethereum Classic (ETC) is showing strength as it holds firm near the $17–$18 zone — a key demand area for the asset. According to analysis shared by Rose Premium Signals, this region also matches with the 0.618 to 0.786 Fibonacci retracement levels, often seen as major reversal points in technical setups.
ETC is trading around $19.48, after price action bounced right from the lower boundary of a long-term ascending channel. This move points to strong buyer interest near support, hinting at the possibility of more upside if momentum continues.
Bullish Channel Signals Uptrend
ETC has been trading inside a clearly defined ascending channel for weeks, maintaining its structure despite recent pullbacks. The current rebound confirms that the channel’s lower support line is still holding, which is a positive sign for bulls.
Analysts now look at two major upside targets: $28.03 and $32.39. These levels align with previous resistance points and the upper boundary of the ascending channel. If ETC continues to gain strength, a move toward these zones could be the next step in the trend.
This potential rally would represent gains of over 40% from current price levels. Such a setup is catching the attention of swing traders and investors looking for medium-term opportunities in the crypto space.
Volume Confirms Momentum Shift
On October 1, Ethereum Classic (ETC) jumped from $18.3 to nearly $20. The spike came with rising volume, showing fresh buying interest and renewed confidence from traders.
The rising volume adds strength to the bullish case and suggests ETC could continue climbing in the near term.
From a technical view, this bounce could be the start of a new Elliott Wave cycle, possibly Wave 3 — often the most powerful phase. Still, if ETC falls below $17, the bullish outlook may fail, shifting attention to lower support areas.