Ethereum Classic holders trading breakouts can look at these metrics
EthereumEthereum Classic holders trading breakouts can look at these metrics08 / 11 / 2022Balita ng Ethereum ng Bitcoin Ethereum Classic [ETC] bulls are already showing signs of momentum weakness, after dominating especially in the second half of July. The coin after peaking at slightly above $45, retraced below $40. It is now showing signs of more downside and heres why. A strong pullback was inevitable after the strong rally that Ethereum Classic delivered towards the end of July. It manifested in the selling pressure that occurred at the start of the month. This pushed prices as low as $32.13 on 2 August but a bounce-back occurred near the 0.5 Fibonacci retracement line. Do the bulls still have a chance? ETC‘s inability to stay above the 0.618 Fibonacci level is another indication of bullish weakness. This outcome might eventually give way to the bears. Some of Ethereum Classic’s indicators already point towards such an outcome. ETCs RSI has already retraced significantly below the overbought zone. On 10 August, it was below the 14-day SMA, confirming that the overall trend favored the bears. Ethereum Classics MACD collaborates the observation with the RSI as selling volume can be seen increasing. The MACD has already crossed below its signal line. The 26-day