Bullet Points:
1. Ethereum Classic (ETC/USD) has experienced a surge in value, up 18% in the week.
2. The gains pushed the cryptocurrency above a crucial descending trendline that has contained ETC for a while.
3. Increased miner activity and ETC transactions have been indicated, however buyers may need to exercise caution at the current price level.

Ethereum Classic (ETC/USD) has been of bull interest in the last two days, with the cryptocurrency surging up 18% in the week. This surge has pushed the cryptocurrency above a crucial descending trendline that has contained ETC for a while, raising hopes of miner activity on Ethereum Classic.

The increased value of ETC can be attributed to Ethereum’s shift to the Proof of Stake protocol, with Ethereum Classic itself a Proof of Work protocol. This shift, also known as the Merge, was expected to push PoW miners to Ethereum Classic, initially boosting the price. However, later on the speculations waned and the prices dropped.

The recent gains of ETC have reignited hopes of miner activity and ETC transactions, with the hash rate from 97.5975 TH/s on December 27 to 111.7497 TH/s on December 30, according to CoinWarz data. This increase in hash rate could indicate increased miner activity, boosting prices after the new year.

Despite the bullish sentiment of ETC, buyers may need to exercise caution at the current price level, as the cryptocurrency still faces bearish pressure at $19. It remains to be seen if the increased miner activity and ETC transactions will be able to keep the cryptocurrency above this important price level.

In conclusion, while Ethereum Classic has experienced an upsurge in value, buyers may need to be cautious at the current price level, with the cryptocurrency still facing bearish pressure. It will be interesting to see if the increased miner activity and ETC transactions will be able to keep the cryptocurrency above the important price level of $19.