The crypto market is generally very risk-averse. Although there has been a lot of volatility, the overall trend in the market is still bearish. Ethereum classic (ETC )) is one of the coins that has been affected by this. It seems like the coin has very little bullish momentum at present. These are some highlights:

• ETC has managed to keep price action above the $25 support for now.

• The token is currently trading at $26. 56, virtually unchanged in the last 24 hours.

• Despite this, ETC is still highly susceptible to selling pressure.

Data Source: Tradingview

Ethereum Classic (ETC) – Where does the price go?

A look at the price movement over the past few days shows that ETC trades within a symmetrical triangular structure. The coin oscillates between support and resistance almost in the same breath. So, even if ETC was somehow able to build an upward trajectory, the coin would likely pull back at $28 and return to the $25 support.

This is why we believe there is very little bullish momentum at the moment. Even with the symmetrical triangle, ETC is still highly susceptible to selling pressure. In fact, with current market volatility, it will be highly unreasonable to expect ETC to hold the $25 support in the days ahead. We believe the only way that the symmetrical triangle will break is if ETC moves in a downward direction.

Why buy Ethereum Classic anyway?

It’s difficult for investors to invest in coins that seem to be stagnant or don’t seem to be gaining enough momentum. However, crypto investors must look at the long-term perspective.

While Ethereum Classic (ETC), at the moment, seems to lack bullish momentum, investors can still expect the coin to deliver value in the medium- and long-term.