Ethereum Classic bulls look to initiate another rally, can they succeed

AMBCrypto
AMBCrypto

30 Jun 2023 2:30 AM

The bullish momentum behind Ethereum Classic began to falter over the past four days, but the retest of $17 could have revitalized the buyers....

  • The bullish sentiment behind Bitcoin could benefit Ethereum Classic (ETC).
  • ETC experienced a 26.6% gain from June 21 to June 24, indicating a short-term bullish trend.
  • The performance of Bitcoin may impact ETC's price action.
  • Fibonacci retracement levels suggest short-term support levels for ETC bulls.
  • The RSI is neutral, but the CMF indicates rising capital flow into the ETC market.
  • The spot CVD has not yet increased despite price bounce.
  • Open Interest has risen by close to $5 million, indicating bullish short-term sentiment.
  • The overall Open Interest and spot CVD have been in a downtrend.

The article discusses the bullish sentiment behind Bitcoin and its potential impact on Ethereum Classic (ETC). It also analyzes ETC's price action, Fibonacci retracement levels, and various metrics indicating bullish or bearish intent.

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You May Ask

How did Ethereum Classic perform from June 21 to June 24?What factors could influence ETC's price action?What are the short-term support levels for ETC bulls?What metrics indicate rising capital flow into the ETC market?How have the Open Interest and spot CVD trends been for ETC?

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