Ethereum classic price points to higher targets. Still, defining an entry point as the weekend arrives will be exceptionally challenging.
Ethereum classic price shows reasons to believe in one more impulse wave up. Traders should be wary as they could be attempting to catch the last profitable opportunity as the technicals suggest the need for a final wave 5.
Ethereum Classic currently auctions at $36.85 as the Ethereum alternative token finds resistance at the 8-Day moving average. A potential to fall into $29 is highly probable as the volume profile indicator suggests an uptick in bearish volume on intra-hour time frames. A breach of the $30 barrier could be viewed as a potential knife catch scenario with bullish targets between $43 and $50. A 21-day moving average also lies in the safe vicinity of the potential $30 low.
ETC/USDT 2-Hour Chart
Invalidation of the bullish outlook would be a breach of $27. If the bears breach the invalidation point, they may be able to descend the price to $21, resulting in a 37% decrease from the current Ethereum Classic price.