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Ethereum Classic Price Prediction: Rebound to Month’s High is Possible

Ethereum Classic price remains below the crucial level of $70, even as the bulls gear up towards the month’s high of above $75. In the near term, the crypto will likely experience resistance at the psychological level of $70 and $72.50. For as long as it remains above the 200-day EMA, the bulls have a chance to retest the month’s high before the end of August.

According to CoinMarketCap, Ethereum Classic price has a market dominance of 0.41%. Over the past 24 hours, its trading volume has declined by 2.76% to $2.922 billion. However, its market cap is up by 0.07% at $8.858 billion.  

Ethereum Classic price prediction

Ethereum Classic price still lacks enough bullish momentum to retest its weekend high. On Saturday, it hit an intraday high of 70.46 before pulling back to the support zone of 65. At the time of writing, ETC/USD was up by 0.95% at 68.25.

On a two-hour chart, the altcoin is trading slightly above the 25 and 50-day exponential moving averages. Besides, it is above the long term 200-day EMA. For as long as it remains above the 200-day EMA, the current bullish sentiment will hold.

In the near term, Ethereum Classic price will likely find support along the 25-day EMA at 67.79. Subsequently, it may trade within a tight range as the bulls gather enough momentum to retest the resistance level of 70.

A bullish breakout will place the next target at 72.50. On the flip side, a pullback from its current support zone will have the bears eyeing the prior level of 64.24.

Ethereum Classic price
Ethereum Classic price