Ethereum Classic Surges 13% in Sudden Price Uptick
1min read Ethereum Classic (ETC) experienced a significant surge on March 3, 2025, with its price rising from $18.85 to $21.30, marking a 13% increase. This sudden uptick has sparked speculation among traders and investors about a potential reversal in the ongoing downtrend. To better understand this price movement, let's delve into the Ethereum Classic price analysis for March 3, 2025.
On March 2, at 09:00 UTC, ETC broke out of a channel to the upside but failed to establish an upward trend. The Relative Strength Index (RSI) moved into the overbought area at 09:30 UTC, indicating an overstretched price. A death cross in the Moving Average Convergence Divergence (MACD) at 10:30 UTC further suggested that the price might decline. ETC then moved down within a channel, reaching its daily low of $18.85 and forming a range. At 14:15 UTC, the RSI moved into the oversold area, suggesting a possible reversal or at least a correction in the price.
At 15:20 UTC, ETC broke out of a small range to the upside, which was further confirmed by a golden crossover in the MACD at the same time. The price rose and formed a converging triangle pattern, which 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 the MACD, and the inability of the price to break the day's high of $21.30 indicated a potential lower price ahead.
At 18:30 UTC, ETC 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 March 3, creating a range. The range broke out to the downside, resulting in a spike and channel pattern that further pushed the price lower at 02:05 UTC.
At 02:05 UTC, the RSI moved into the oversold area, suggesting a pullback. 