Ethereum Classic Price Analysis of March 3, 2025: ETC Surges from $18.85 to $21.30: Is the Downtrend Over?

Let’s dive into the Ethereum Classic price analysis on March 3, 2025, will a reversal or a correction follow the surge of 13%?
Ethereum Classic spiked almost 13% to the upside on Sunday. Traders and investors are surprised as the price rises this high in a downtrend. This raises a question: Is this a reversal or just a correction in the ongoing downtrend? If you are following Ethereum Classic or want to invest in Ethereum Classic, then this analysis is for you. We will analyze the support and resistance levels and possible scenarios that could happen in Ethereum Classic. Without any further delay, let’s dive into the Ethereum Classic price analysis.

Ethereum Classic Price Analysis

At 09:00 UTC on 2nd March, the price broke out to the upside from a channel but failed to form an upward trend. At 09:30 UTC, RSI moved to the overbought area, suggesting an overstretched price. A death cross in MACD at 10:30 UTC further suggested that the price might go lower. The price moved down in a channel, marking the low of the day at $18.85 and forming a range. At 14:15 UTC, RSI moved to the oversold area, suggesting a reversal or at least a correction in the price.

Chart 1: Analysed by vallijat007, published on TradingView, March 3, 2025

At 15:20 UTC, the price broke out from a small range to the upside, further confirmed by a golden crossover in MACD at the same time. The price rose and formed a converging triangle pattern, which further broke out to the upside at 16:30 UTC.

Meanwhile, the RSI traveled above the level of 70, suggesting a correction in the price. At 17:45 UTC, a death cross appeared in MACD, and the inability of the price to break the high of the day at $21.30 suggested a lower price ahead.

At 18:30 UTC, the price broke down from an upward-moving channel, pushing the price lower. A converging triangle formed, which again broke out to the downside at 00:00 UTC on 3rd March, forming a range. The range broke out to the downside, creating a spike and channel pattern, further pushing the price lower at 02:05 UTC.

Support Levels and Future Scenarios

At 02:05 UTC, RSI moved to the oversold area, suggesting a pullback. The price found support at $20.20, and at 06:35 UTC, it broke out from the support area.

• If this breakout to the downside succeeds, then the price may drop to $19.50, which is another support zone.
• If this area fails to hold, the price may fall further to $18.80.
• If the breakout of the support level fails, then the price may break yesterday’s high of $21.30 and continue its new uptrend.

Concluding Words

As analyzed above, the Ethereum Classic spike could be a reversal or just a pullback; it depends upon further price action, and the decision to invest in Ethereum Classic depends upon it. If the price breaks its high, then further buying could be seen, but if it does not, then it could be considered just a correction in the ongoing downtrend. Traders and investors should be cautious in this situation and follow proper risk management. During these times, when the price rises, a sense of greed emerges, and when the price crashes, a sense of fear emerges. Therefore, taking control of emotions is also very important.