Ethereum Classic Flashes Bullish Signs As Volume Rises; Will $32 be breached?

ETC's price shows strength as it bounces from a downtrend range with high volume, aiming for a rally to $30. ETC faces a major test to trend higher above $30 after the price broke out of its descending triangle price movement.

Timeline of Ethereum-classic

Ethereum Classic (CRYPTO: ETC) is trading higher by some 12.29% to $29.47 during Tuesday afternoon. Shares of several altcoins are trading higher in sympathy with apex cryptocurrency Bitcoin (CRYPTO: BTC) and second-largest market cap crypto Ethereum (CRYPTO: ETH) and U.S. equities.

The price of Ethereum Classic [ETC] increased by 6.71% despite Charles Hoskinson throwing tantrums over the coin's Twitter account suspension. The controversial Cardano [ADA] founder tweeted his observation of the suspension.

Things are not going well with Ethereum Classic as the coin's community struggles to regain a suspended twitter account. At the center of the issue is one Charles Hoskinson, who happens to be the founder of Cardano.

At least four weeks have passed since the Ethereum Classic [ETC] hash rate peaked after Ethereum's merge. It has pulled back significantly since then and a look at its current hash rate reveals some interesting observations.

Ethereum Classic had a September filled with hardships as the altcoin had to bear the brunt of the ongoing bear market. However, it seems like the bearish momentum will continue for ETC, and one of the reasons for that could be ETC's declining social engagements.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Bearish market structure on higher timeframes ETC trades near the Fibonacci golden pocket as well Ethereum Classic [ETC] saw a lackluster performance in the markets on 15 October.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice Moving averages depicted a strong selling edge as the price action approached a support region. Ethereum Classic's funding rates showed slight improvement but were yet to turn positive.

Ethereum Classic (CRYPTO: ETC) is trading flat to $23.19 going into the close of U.S. market trading Thursday, recovering sharply after selling off some 9.88% to $20.90 intraday. Cryptocurrencies at large are volatile Thursday after September CPI data showed worse-than-expected inflation.

Ethereum classic remained close to a three-month low in today's session, as the token continued to extend recent declines. The token is now trading almost 15% lower in the last seven days. Near protocol was also lower, with it also falling to its lowest point since July.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Ethereum Classic has already seen rejection at the $29 mark $27.3 also flipped to resistance, a retest could offer traders an opportunity Ethereum Classic [ETC] has been in a downtrend since early September.