Ethereum Classic (ETC) is poised for a 22% rally, as it has formed a bullish pattern and gained notable attention from investors.
Ethereum Classic could soar by 20% to reach the $34.25 level if it closes a daily candle above the $28.50 level., has been making waves with its impressive rally following a notable price decline in recent days. The overall market sentiment seems to be shifting towards price recovery after a significant decline, including major assets like Bitcoin and Ethereum .
This substantial outflow indicates a potential upside rally and an ideal buying opportunity for ETC holders, as it suggests that the assets have transferred from exchanges to long-term holders’ wallets, indicating potential accumulation.In addition to long-term holders’ interest, traders have also begun showing interest in the token, as reported by the on-chain analytics firm Coinglass. At present, the ETC long/short ratio stands at 1.019, indicating strong bullish sentiment among traders.
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