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- Ethereum Classic shows similarities to its 2021 bullish breakout, potentially signaling a massive upward trajectory.
- Long-term accumulation in ETC highlights its potential for significant growth in the upcoming bull cycle.
According to an analysis on TradingView by famous crypto analyst Alan Santana, Ethereum Classic (ETC) is exhibiting characteristics similar to its early 2021 bull run. Following a multi-year sluggish phase, ETC underwent an “initial bullish breakout” back then, then two weeks of red candles, more sideways trade, and finally a huge bull run.
Santana notes that with the presence of a long-term higher low, the present market conditions are almost exactly the same and could provide much more powerful results.
Ethereum Classic Prepares for a Massive Bull Run
Following two weeks of red trading, ETC is merging as of early 2025. The third week’s continuous sideways shift reflects the preparation for the tremendous expansion predicted in 2021. Santana underlines that although his graphic shows the fractal from a linear perspective, the ultimate goal exceeds the 2021 all-time high (ATH).
“We are getting closer daily to a very strong bullish breakout,” Santana says. With a double-top pattern and in line with the rule of alternation, he forecasts a new ATH surpassing $300, perhaps extending the bull market.
CNF noted in a December article ETC’s 1,099-day accumulation period, suggesting a possible 10x increase in the following bull cycle. For long-term investors especially, historical data supports the idea that such steady accumulation usually results in considerable market profits.
Though there is a bullish sentiment, Ethereum Classic’s present market performance is still somewhat muted. As of writing, ETC swapped hands at about $25.63, down 10.42% over the last 24 hours. Some investors are worried as this decline has brought market cap below the $4 billion mark.