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Ethereum Classic is the top performer among the 50 largest cryptocurrencies by market capitalization today.
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ETC has risen more than 4% in the past 24 hours and has gained 21% over the last seven days.
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The broader crypto market is lagging after a positive start to the week.
ETC is outperforming other major cryptocurrencies today
ETC, the native token of the Ethereum Classic blockchain, leads gains among the top 50 cryptocurrencies by market cap today. It has advanced more than 4% in the last 24 hours, bringing the price of Ethereum Classic to $18.73.
Data from the crypto analytics firm Santiment shows that Ethereum Classic is experiencing a notable rally. Trading volume has increased and many traders are heavily shorting ETC on exchanges, which can amplify moves when shorts get squeezed.
This recent momentum may be the primary catalyst pushing ETC higher. While the crypto market started the week with gains, it has since softened. The total crypto market capitalization sits near $817 billion, down slightly in the past 24 hours.
Major assets like Bitcoin and Ether remain above key levels, with Bitcoin holding above $16,800 and Ether staying north of $1,250.
Key levels to watch
The ETC/USD 4-hour chart looks bullish after recent price strength. Several technical indicators suggest ETC is currently outperforming the wider market.
ETC/USD Chart By TradingView
The MACD is firmly in positive territory, indicating bulls control market momentum. The 14-day Relative Strength Index near 78 suggests ETC is approaching overbought conditions if the rally continues.
With bullish momentum prevailing, ETC could push past the first significant resistance at $20.12 before the end of the day. If the rally extends, ETC may challenge the $23 psychological level, a price not seen since November 2022.
Where to buy Ethereum Classic now
To purchase ETC, use a reputable cryptocurrency exchange or brokerage that lists Ethereum Classic. Choose platforms with strong security practices, transparent fees, and sufficient liquidity. Ensure you complete account verification where required and follow best practices for securing your holdings, such as enabling two-factor authentication and storing large balances in a private wallet.