ETC Is Struggling to Build Its Upside Momentum
Ethereum Classic (ETC) is down 1.5% this week, trading at $18.36 and underperforming the broader cryptocurrency market. In contrast, Bitcoin (BTC) is trading neutrally at $62,100. ETC has been in a sideways trend for the past two months, repeatedly attempting to break through the key resistance level of $20.00. However, both previous efforts to climb above this resistance were unsuccessful.
A third attempt to break the trend resistance matching with horizontal resistance at $20.00 appears likely in December. The ongoing "Uptober" trend, traditionally marked by strong crypto market performance, could provide the necessary momentum for a broader market rally, potentially accelerating ETC’s push toward the $20.00 mark this month. A breakout above this level could set the stage for a more sustained upside move.
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