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Ethereum Classic is Up 1,900% in the Last Year, ETC Bulls Aiming at $200

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Pause for a moment and ponder: Ethereum Classic (ETC) is up 19X in the last year of trading.

It more than doubled in two days.

Last week alone, ETC rose a whopping 180 percent versus the USD, BTC, and ETH.

Has there been some “factory reset,” and investors are coming back home?

Ethereum Classic (ETC) Has a Dogecoin Moment

It might be happening in real-time.

Traders are in the very early stage of picking out this expansion.

In early February, for the perspective of just how mind-boggling the rally has been, ETC prices were “struggling” at $25.

Fast-forward two months later, ETC has unexpectedly erupted, printing a new all-time high of around $180.

Most of these super gains were registered last week.

The question is: Are ETC bulls getting started, or is this just another “DOGE” replica? A pump-and-dump in the making?

Well, who knows? We know for sure that traders are excited. Trading volumes are up to $18 billion on the last day alone.

The Ethereum Classic network consistently boasts of comparatively high transaction counts—regardless of how ETC price fair.

At spot rates, ETC is at 13th in the market cap leaderboard.

What’s more? ETC/USD technical candlestick arrangements are looking up.

Time to HODL ETC

According to this one analyst on Twitter, he thinks ETC looks solid going forward.

His rallying call? HODL!

It is perhaps the most straightforward trading strategy out there. There is no need to be split by the project’s fundamentals or reading technical candlestick arrangements. HODLers are true believers of the project’s fundamentals.

If HODLing is the case, we have to look back to developments of the past few years.

In the depth of the crypto winter of 2018, a development wing of the project ceased operations, citing the absence of funds.

However, less than 15 months later, in late 2019, Ethereum Classic activated the Atlantis hard fork.

The result? Better stability and, most importantly, compatibility with Ethereum—the home of DeFi and NFTs.

This means that once Ethereum switches off mining, a host of miners will flock to Ethereum Classic, sparking development—DeFi, NFTs, and more, boasting prices.

Before ETC/USD rips higher—at least according to what traders maintain, one in Trading View is confident of another wave higher to new 2021 highs in the immediate term.

Ichimoku Cloud Points to ETC/USD at Above $200

Last week, ETC/USD rose in tandem with ETH, reaching around $180—a new 2021 highs.

Hooman_Dehghani believes the coin is headed to $200 based on the candlestick arrangement in the 4-HR chart.

Hooman_Dehghani --Ethereum Classic Price

If the Ichimoku cloud technical indicator guides, ETC prices will break above last week’s high–the immediate resistance levels defined by the bull flag–and soar to $200 in a buy trend continuation.

From other analyses, it appears that ETC/USD traders are confident of a reversal.

Although ETC prices have contracted in recent times, the zone between $90 and $100 is the ideal loading zone for traders who missed the breakout above $30 in previous sessions.

According to one analyst on Twitter, ETC is ready to pump. From her analysis, the next level for ETC is $200.

Based on the chart, ETC/USD may find support at spot levels which flashes with the 78.6 and 61.8 Fibonacci retracement levels of the recent trade range. A rebound is highly likely to drive buyers above $180—last week’s highs—towards $200 in a bull trend continuation.

Another trader thinks ETC is ready for a print above $270. Presently, the oscillation of prices within last week’s trade range and above $100 strongly favors buyers from an Effort-versus-Results perspective.

Disclaimer: Opinions expressed are not investment advice. Do your research.

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Passionate about Blockchain, Crypto, Blockchain, and Bitcoin. Excited of what lies ahead. Advocating adoption. HODLer!

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