Ethereum Classic Surges 10% Amid Altcoin Rotation
Ethereum Classic's price has surged by 10% in just 24 hours, reaching $8.74 as capital appears to rotate towards older Layer-1 networks.
This shift aligns with CoinMarketCap's Altcoin Season Index, which has climbed to 48 over the past month, indicating a potential altcoin rotation.
The increase in Trading Volume is also noteworthy, rising by 150% to $113.63 million, suggesting stronger participation than during earlier stages of the recovery.
On the daily chart, Ethereum Classic has reclaimed its key EMAs, shifting its short-term technical structure towards buyers and extending the bullish momentum that emerged after it retested its pennant last week.
The next major test for Ethereum Classic lies near the $10 swing high, roughly 14% above its current price. A decisive close above this level could confirm a broader bullish structure and extend the rebound.