<em><strong>ETC technical analysis displays a high momentum bullish reversal accounting for a 15% jump last week, teasing a jump to the $44 mark. </strong></em>

After failing to sustain above the ascending support trendline, the ETC prices dropped by 25% within a week. However, the buyers quickly regain trend control near the $30 mark, resulting in a Morning Star pattern reversal. But will the reversal rally reach the $44 mark, or will the prevailing downtrend regain momentum?
<h3>Key Points:</h3>
<ul>
 	<li>The ETC price trend is approaching the overhead resistance of $40.</li>
 	<li>The 50 and 200-day SMAs gain bullish spread after the recent Golden Crossover.</li>
 	<li>With a market cap of $5.08 billion, the intraday trading volume of <a href="https://www.cryptoknowmics.com/news/antpool-supports-ethereum-classic-ecosystem-with-10m-investment/" target="_blank" rel="noopener">Ethereum Classic</a> has increased by 77% to reach $1.39 billion.</li>
</ul>
<img class="alignnone" src="https://s3.tradingview.com/snapshots/z/Z93qgVjp.png" alt="ETC/USD Chart" width="2047" height="1057" />

Source - <a href="https://www.tradingview.com/x/Z93qgVjp/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>ETC Technical Analysis</h2>
The bearish breakout of a flag pattern in the daily chart lenses the ETC price is 25% within a week to test the buyers at $32. However, the buyers successfully halted the downtrend and reversed it with a Morning Star pattern.

The bullish reversal rally accounts for a 15% jump within the last week, with multiple lower price rejections reflecting high trend momentum.

Despite the multiple bullish candles asserting buyers' dominance over the price trend, the trading volume fails to reflect any exceptional surge. Hence traders hoping to ride the bullish rally must wait for the $38 breakout.

The $38 breakout rally can test the overhead resistance of $44 and potentially reach the psychological mark of $50. On the other hand, a bearish reversal might create another bottom at the $32 support level near the 50-day SMA.
<h2>Technical Indicators</h2>
The RSI slope displays an increase in the underlying bullishness as it crosses about the halfway line to challenge the 14-day SMA.

Moreover, the fast and slow lines display a bullish reversal projecting a crossover event shortly as the bearish histograms lose their intensity.

Hence the technical indicators represent a weakness in the underlying bearishness and increase the possibility of an uptrend in ETC prices.

Resistance Levels: $38 and $44

Support Levels: $33 and $30

ETC Prices Skyrocket, Ready To Test The Broken Resistance Trendline 

ETC technical analysis displays a high momentum bullish reversal accounting for a 15% jump last week, teasing a jump to the $44 mark. 

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 Prices Skyrocket, Ready To Test The Broken Resistance Trendline

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