What awaits Ethereum Classic [ETC] after approaching key Fib. level - BitcoinEthereumNews.com
EthereumWhat awaits Ethereum Classic [ETC] after approaching key Fib. level07 / 17 / 2022Balita ng Ethereum ng Bitcoin Ethereum Classic‘s [ETC] bulls have regained control ever since it bottomed out in mid-June. Their presence has been particularly felt in the last seven days during which ETC’s price action delivered a strong uptick. However, at press time, it was flashing signs of a bearish reversal after its latest rally. ETC‘s latest rally kicked off on 13 July from the day’s low at $13.34. It has delivered a sustained bullish uptick since then. In fact, it peaked at $19.92 within the last few hours at press time, which means it pumped by almost 50%. However, there seemed to be multiple signs suggesting that it might be about to cool down. Mga palatandaan ng panahon Ethereum Classics price, at press time, was trading near a Fibonacci retracement level. Any further upside will likely yield significant selling pressure near the $20.19-level. This is a significant price point, not only because of the Fibonacci retracement line but also because the same price zone provided support in May. The probability of a reversal is further enhanced by the fact that the MFI entered the overbought zone. Its RSI was also closing in