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The Ethereum Classic price is up 12% in the last 24 hours to exchange hands for $20.84 at 7:45 a.m. EST.

ETC is rallying alongside Ethereum (ETH), its hard fork and the second-largest cryptocurrency by market capitalization. The push is similar to the Bitcoin (BTC) market, where Bitcoin forks such as Bitcoin Cash (BCH) and Bitcoin Gold are tracking upward with BTC.

The native crypto for the Ethereum Classic ecosystem is ETC coin, powering the blockchain project that was created in 2016. This was when Ethereum’s blockchain split into two separate chains after a disagreement within its community.

Ethereum Classic is a smart contract platform supporting decentralized applications (DApps). It boasts a fixed supply of 210 million ETC coins.

For Ethereum Classic, the surge comes from spot Ether exchange-traded funds (ETF) euphoria. BlackRock, the world’s largest asset management firm with almost $10 trillion in assets under management (AUM), is the latest fund manager to reveal its for an Ether ETF, as revealed in a filing by Nasdaq.

It is worth considering that BlackRock rarely fails in such an application and has more than 590 approvals under its belt so far. The filing brings the total number of active Ether ETF applications to six, including Grayscale, Invesco, Hashdex, Ark Invest, and VanEck.

It is impossible to ignore the role of Grayscale’s win against the US Securities and Exchange Commission in the longstanding battle for approval to have its Bitcoin Trust (GBTC) converted to an ETF.

Meanwhile, investors are elated with how Ethereum Classic is showing strength, with some anticipating more gains despite ETC being massively overbought.

Ethereum Classic Price Prognosis With Equal Highs On The Horizon For ETC At $23.35

Based on the technical indicators, the Ethereum Classic price has the potential for more gains. The Relative Strength Index (RSI) at 82 shows that ETC is overbought, but its trajectory is still northbound, indicating there may be more gains incoming as buyers continue to flock to the scene.

Also, the Awesome Oscillator (AO) indicator is positive, with large volumes of green histogram bars suggesting bulls are leading the market.

Increased buying pressure above current levels could send the Ethereum Classic price further north. A decisive move above the $22.00 psychological level would pave the way for an extended move north for the cryptocurrency to clear the equal highs at $23.35. In a highly bullish case, the gains could extend for ETC to tag the range high at $24.25. Such a move would constitute a 25% climb above current levels.

Ethereum ClassicEthereum Classic
TradingView: ETH/USDT 1-day chart

Converse Case

Conversely, if the supply zone, extending from $17.91 to $20.98, fails to hold as a support level, the Ethereum Classic price could pull south, potentially flipping this order block back into a supply barrier or resistance. To confirm a rejection, investors should watch for a close below the mean threshold of this order block at around $19.45.

Rejection from this supplier congestion level would send the Ethereum Classic price south with the likelihood of losing the support offered by the 200-day Exponential Moving Average (EMA) at $17.48. Further south, the support offered by the confluence between the 50-day EMA and the horizontal line at $16.76 could also be lost, clearing the path for a retest of the 100-day EMA at $16.67. A break and close below this level would invalidate the current bullish outlook.

While Ethereum Classic rides the ETF wave, investors looking to get ahead of the narrative can use BTCETF, one of the best five crypto presales to buy now. Experts say this token has the potential to yield 10X returns.

Token holders will be rewarded once the US SEC approves the launch of a spot Bitcoin ETF. Notably, this could be very soon, with ETF specialist from Bloomberg Intelligence noting that the SEC has an eight-day window to approve it. And even if that eight-day window closes without approval, January 10 would be the deadline to watch, with a 90% chance of an approval by then, the Bloomberg analyst said.

Ethereum Classic Alternative

BTCETF is the native crypto for the Bitcoin ETF Token project, a new entrant in the presale space but with a big vision. It aims to revolutionize the crypto market by getting everyone prepared for the upcoming revolution in the crypto and stock market spaces even as Bitcoin ETFs strive to make digital assets more accessible for all traders.

The BTCETF token is selling for only $0.005, with almost $240,000 already in the bag out of the stage’s $420,000 target. Join the community of forward-looking investors buying BTCETF with Ethereum and USDT stablecoin, or use your bank card here.

Featuring among the top five crypto presales to buy now, do not let a spot BTC ETF launch before you are part of the action. With Bitcoin price soaring, it is already a sign of how soon the product could go live, and the early birds will benefit the most.

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