Ethereum Classic [ETC] jumped 10% over 24 hours to $8.74, according to reports from AMBCrypto. The cryptocurrency's trading volume surged 150% to $113.63 million, indicating significantly stronger participation than during earlier stages of the recovery. The price movement aligned with CoinMarketCap's Altcoin Season Index, which climbed to 48 over the past month, suggesting a broader rotation toward older Layer-1 networks. Recent forecasts from TradersUnion indicate potential further upside, with ETC projected to reach $9.59 within a week and $9.195 within four weeks, based on aggregated consensus from multiple price forecast sources.
On the daily chart, ETC had reclaimed its key EMAs, shifting its short-term technical structure toward buyers, as reported by AMBCrypto. The move extended the bullish momentum that emerged after ETC retested its pennant last week. However, daily and weekly Price Volatility rose sharply over 48 hours, which could accelerate ETC's move along the current trend while increasing the risk of a sudden reversal. Technical analysis from TradersUnion shows ETC trading between $8.28 and $8.73 on Thursday, with the weekly average around $8.415, indicating strong support levels and potential for continued upward movement.
The next major test sits near the $10 swing high, roughly 14% above ETC's press-time price, according to AMBCrypto analysis. Clearing this level could extend the rebound and confirm a broader bullish structure after the pennant breakout. ETC also remained above its key EMAs, supporting the improving short-term outlook. A decisive close above $10 with elevated Trading Volume could give the rally another leg, while a rejection near $10 could send ETC back toward its EMA support after the breakout attempt. Recent forecasts suggest ETC could reach $9.73 by the end of week 3 and $9.52 by week 4, providing clear targets for the ongoing rally.
The 150% Trading Volume increase showed much stronger participation than during earlier stages of the recovery, as noted by AMBCrypto. If activity remains elevated, ETC could gain enough momentum to challenge its next major resistance levels. However, rising Price Volatility measures movement intensity rather than direction, meaning a rejection near $10 could send ETC back toward its EMA support after the breakout attempt. The current price action suggests a potential rotation toward older Layer-1 tokens, though the sustainability of this momentum remains dependent on continued high trading volumes. Recent forecasts from TradersUnion indicate 75-89% of customers lose funds in cryptocurrency trading, emphasizing the high-risk nature of digital asset investments.
