Is Ethereum Classic price poised for another major bullish breakout?

Ethereum Classic has been a favorite for short term traders for quite some time. Earlier, it served as a cheaper and more volatile alternative to Ethereum, which is the second largest crypto by market cap. ETC provided very similar features as Ethereum, with the only difference being that it was far more volatile, but tended to mimic ETH’s price action with some added volatility. Thus due to that, it provided good trading opportunities along the way.

And after analyzing data from multiple on-chain metrics, ranging from hashrates touching all-time-highs and a steadily increasing amount of ETC tokens being HODLed by the top 1% of ETC holders, we can conclude that Ethereum Classic’s metrics seem very optimistic as of now. Analysis of both technical factors and on-chain metrics indicate that this particular crypto is well poised to support any bullish breakout that may happen in the near future. Thus if we see a sustained broader market recovery in sentiment and price, Ethereum Classic would definitely be a good recovery candidate in such a situation.