Ethereum Classic Breaks Key Resistance and Targets $39.80

The price of Ethereum Classic (ETC) has successfully broken the resistance level of $20.90 with a strong candlestick volume, indicating a potential upward move. A robust reversal pattern has formed from the historical low of $12.49, and the price is emerging from an old downtrend channel. The ultimate target on the chart is around $39.82, an area of significant past supply. The optimal entry point is believed to be a pullback to the broken level at approximately $20.90, especially if confirmed by a candlestick signal. A prudent stop-loss should be placed below $19.50, and the expected target is around $39.80, close to the historical resistance. The recent 20% increase in a single day suggests smart money is entering ETC with high trading volume supporting further movement. However, if the price does not pull back, it's advisable to wait, as the current level is near the resistance and might see a correction.