Ethereum Classic (ETC) showed resilience today, holding support along the lower boundary of a falling wedge on the weekly chart, according to crypto analyst Jonathan Carter, as of Monday, February 16, 2026.
This technical formation, widely recognized as a bullish reversal signal, suggests that sellers are losing momentum. Traders are closely monitoring ETC’s price behavior after a volatile week, with current levels around $8.59 marking a crucial decision point.
The falling wedge structure remains intact, reinforcing ETC’s technical bullish outlook. Historically, descending wedges often precede breakouts once the price surpasses the upper trendline.
Current market behavior suggests buyers are gradually regaining control while the lower support continues to hold. Analysts see this as a potential turning point, where momentum could shift significantly.
Also Read: Ethereum Classic (ETC) Tests Critical Support Before Explosive Bounce to $120
Ethereum Classic (ETC) Rally Could Hit $18 or Slip Below $7
Price projections suggest that ETC may rise step by step. The levels at which ETC may face resistance are $9, $13, $18, $25, $40, $53 and $78.
These levels are the levels at which traders may take profits. The stepwise rise of ETC is common in wedge breakout patterns. The technical indicators suggest that ETC still has good growth potential.
Market experts suggest that traders should place a stop-loss order at $7 to avoid any unexpected fluctuations.
The weekly closing and trading volumes should also be monitored to confirm the breakout. If the momentum is sustained, Ethereum Classic may offer tremendous returns and should be considered by traders and investors.
ETC Technicals Point to Short-Term Consolidation
According to TradingView data, as of Monday, ETC had a steep fall at the start, then consolidation in the range of $8.00 to $8.50.
An attempt at a comeback has seen the price rise slightly above $9.00, only to fall back to the present price at $8.592. The short-term trend is a volatile one, with repeated attempts at a comeback, but resistance at $9.00 is causing a degree of unpredictability.
Source: TradingView
The technical indicators support this conservative view. The MACD technical indicator has just experienced a bearish crossover, with the MACD line falling below the signal line.
This may imply that ETC is gaining downward momentum. The RSI is at 48.99, which is just below the middle point, implying that ETC is fairly balanced, with a slight bearish trend.
Also Read: Ethereum Classic (ETC) Eyes $28–$32 Resistance as Market Sentiment Turns Positive
