ETC Is Losing Momentum
Ethereum Classic (ETC) is up 11.5% this week to $36.88, outperforming the broader market as Bitcoin (BTC) slips 1.1% to $96,678. The altcoin rally remains robust, with ETC surging 10.8% on Wednesday alone, marking a remarkable 97.3% gain since early November.
ETC is now approaching the ascending channel resistance at $40.00, which may act as a pivotal level. While a price spike beyond $40.00 is possible, sustained movement above this resistance is necessary for further upside to $45.00. Without significant positive developments within the Ethereum Classic project, such an advance may lack staying power, increasing the likelihood of a correction back toward $35.00.
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