ETC: Building Momentum to Break Descending Channel 🚀

BINANCE:ETCUSDT   Ethereum Classic / TetherUS
ETC's Journey Toward Breaking the Descending Channel:

Prolonged Descending Channel: Since October, ETC has been confined within a descending channel, reflecting a prolonged period of downward movement.

Building Bullish Momentum: The current market dynamics reveal a notable compression occurring under the upper boundary of the descending channel, suggesting a gathering of bullish momentum.

Key Observations:

Channel Exit Anticipation: Traders and investors are keenly observing ETC as it approaches the upper boundary of the descending channel, anticipating a potential breakout.

Bullish Sentiment: The compression under the upper boundary implies a shift in sentiment, with bulls gaining strength and preparing for a possible upward move.

Potential Implications:

Bullish Breakout Scenario: If ETC successfully breaks out above the upper boundary of the descending channel, it could mark the end of the extended bearish phase and signal a new bullish trend.

Target Levels: Traders will be eyeing key resistance levels beyond the channel exit for potential targets as ETC strives to establish a new upward trajectory.

Trading Strategy:

Confirmation and Entry: Wait for a confirmed breakout above the upper channel boundary before considering entry, ensuring it aligns with supporting volume and price action.

Risk Management: Employ risk management tools, such as stop-loss orders, to mitigate potential downside risks and protect trading capital.


As Ethereum Classic approaches the upper boundary of its longstanding descending channel, the compression suggests a shift in market sentiment. Traders are on the lookout for a potential breakout, which could signal the beginning of a new bullish phase for ETC.

Wishing you successful trades as we monitor ETC's journey toward potential channel exit!

❗️Get my 3 crypto trading indicators for FREE! Link below🔑

⚠️ Try a FREE trial of my ready-to-use Buy/Sell systems for the crypto market - [ ]

✅ Get more in our Discord - [ ]

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.