• The price of Ethereum Classic is down 2.5% over the last 24 hours.
  • ETC failed to ride on broad market sentiment which is currently stable near $20.
  • A breakdown amid rising selling could push ETC/USD 22% lower to $16 lows.

Ethereum Classic (ETC) did not have a good March, as did some of the major cryptocurrencies, including the top two Bitcoin (BTC) and Ethereum (ETH).

Ethereum Classic price looked poised for another loss at $20 as BTC resisted near $29,000 on Thursday and ETH price consolidated near $1,800. ETC is flat on the weekly timeframe and has been negative for the past 30 days.

ETC Price: Bulls Must Hold $20 or Risk Double-Digit Drops

The price outlook for Ethereum Classic on the daily chart sees the ETC/USD pair rejecting in a key supply zone just above $20. The macro downtrend remains intact as the bears push the bulls away from the resistance line of the long-term symmetric triangle pattern.

Ethereum Classic price chart. Source: TradingView

However, the daily RSI is broadly flat at the median line, suggesting indecision overall. can be pushed up.

However, the daily MACD does not give buyers any joy and a sentiment collapse threatens to plunge 22% near the baseline support of $16.

On the upside, a breakout of $24 could lead to $30 and then $39, and a large symmetrical triangle breakout could bring in $75 in the coming months.

By Jules

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