Ethereum Classic Going For All-Time High?

Ethereum Classic begun to look very attractive after rejecting the support at $8.55 and breaking above the 200 Moving Average. ETC/USD also managed to go higher $14 level which was a minor resistance.

After breaking above the 200MA and hitting $13.3, the price went down and rejected the moving average, followed by the break above the $14 mark. Things do start to look pretty bullish for the Ethereum Classic as trading volume and volatility have also increased in the past 4 days.

The nearest target for ETC/USD could be near 127.2% Fibonacci retracement level located near the $30 level. This could produce a strong 100% growth for ETC in the nearest future. Break below $8 would be a negative sign for Ethereum Classic, but this scenario does look unlikely with the current price action.

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