Ethereum Classic (ETC) Tests Critical Support Before Explosive Bounce to $120

Ethereum Classic (ETC) is relatively stable around the $12.7-$12.8 range. The price is indicated at approximately $12.8 with a 24-hour volume of about $57.9M. This stage indicates a consolidation phase where the market had equal participation of both the buying and selling forces.

Source: CoinMarketCap

Soon after, there is a strong sell-off, and the price plummets steeply from above $12.7 to around the lower $11.7-$11.8 region. But after this intense crash, the price settles and moves sideways, largely around $11.8 and $12.0.

Also Read: Ethereum Classic Price Prediction 2025: Will ETC Hit $53.40?

ETC Test Critical Support With $120 in Focus

However, the crypto analyst, Jonathan Carter, highlighted that Ethereum Classic (ETC) is currently testing an important level of support at the bottom of the descending triangle.

As the price gets closer to this important level, there is some defensive buying, and the increasing volumes show that the community is preparing for what could be an important bounce. The outcome here could set the tone for ETC’s next major move.

Source: X

With a support level of $11 holding strong, bullish targets can be considered for a price range of $18-$25 in the short term, $40-$53 in the mid term, and $78-$120 in the long term. When it comes to cryptocurrency markets, opportunities are always available when fear grips the market, and now could be the best time for participants to strike while opportunities are ripe for a big move.

Technical Indicators Hint at a Consolidation Phase Ahead

From the technical perspective, it can be seen that there has been a considerable decline in the ETC price since the midpoint of 2025. The Bollinger Bands are showing high volatility in the prices, oscillating between the upper and lower bands. Exponential Moving Averages (EMAs) are also shown, where the prices recently broke below the 20 EMA.

Source: TradingView

As of January 2026, Ethereum Classic (ETC) is nearing the lower boundary of Bollinger Bands. This may indicate that it could go further down or make a strong move upwards if the strong support level of $9.47 is successful in attracting buyers.

Also Read: Ethereum Classic Rally: Trades at 16-Month High