<em><strong>The ETC prices show a post-retest reversal from $33, resulting in the $38 breakout. Will this uptrend reach the psychological mark of $50?</strong></em>
<h3>Key Technical Points:</h3>
<ul>
 	<li>Ethereum Classic (ETC) prices show a lower price rejection candles at the $33 mark leading to a reversal reaching $38.</li>
 	<li>The bullish crossover of the 50 and 100-day SMA projects a bullish inclination in the underlying sentiments.</li>
 	<li>With a market cap of $5.23 billion, the intraday trading volume of Ethereum Classic has increased by 33% to reach $1.47 billion.</li>
</ul>
<h3>Past Performance of ETC</h3>
As teased in our <a href="https://www.cryptoknowmics.com/news/etc-technical-analysis-range-below-200-day-sma-warns-correction" target="_blank" rel="noopener">previous article</a>, the ETC price action gives the bullish breakout of the consolidation range below the 200-day SMA. The unleashed bullish momentum fueled the breakout rally, which broke the 200-day SMA and the $40 mark. However, the prices to higher price rejection from the $44 mark resulted in a retest of the $33 breakout but the prevailing trend rebounded with a successful post-retest reversal.

<img src="https://s3.tradingview.com/snapshots/o/oHZX98W2.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/oHZX98W2/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>ETC Technical Analysis</h2>
Last night, the ETC price jumped by 10%, undermining the higher price rejections the previous week during the consolidation between $33 and $38. Hence the likelihood of a bullish trend continuation above the $38 mark increases.

Furthermore, the bullish crossover of the 50 and 100-day average line reflects an improvement in the underlying bullish sentiments.

The RSI slope shows a sideways trend near the overbought boundary after retracing over the week. Moreover, the fast and slow lines in the MACD indicator struggled to avoid a bearish crossover. Hence, the technical indicators, as slightly opposite to the price action, and Alices reflect a momentary weakness in the underlying bullishness.

In a nutshell, the ETC technical analysis advises the traders to wait for a price action confirmation before taking a bullish trade.
<h2>Upcoming Trend</h2>
If the ETC price sustains above the $38 mark, an uptrend continuation to the psychological mark of $50 seems possible.

However, a bearish reversal might further continue the sideways trend between $33 and $38.

Resistance Levels: $38 and $44

Support Levels: $33 and $28

ETC Technical Analysis: $33 Retest Teases A Bull Run To $50

According to the technical analysis, ETC prices show a post-retest reversal from $33. Will this uptrend reach the psychological mark of $50?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

ETC Technical Analysis: $33 Retest Teases A Bull Run To $50

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