Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice Over the last few weeks, Ethereum Classic’s [ETC] gradual growth plateaued in the $38-$39 range. This range has flipped itself to exhibit tendencies of a supply zone, especially after the most recent rejection of higher […]
The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice
The substantial uptick in buying volumes can help turn the tide in favor of the bulls. A close above this supply zone can further affirm the bullish bias. Over the last few days, ETC entered a compression phase near the Point of Control in the $36-zone. Meanwhile, the three-week trendline support, POC, and the 20 EMA, coincided in offering rebounding grounds for ETC.
The rebound from the 20 EMA can aid buyers in retesting immediate resistance before a potential bullish volatile break. In this case, the potential target would lie in the $40-$41 range.
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