Ethereum Classic [ETC] sends cautionary signals as price grows by over 25%

A retracement in sight for Ethereum Classic?

First, its Money Flow Index was spotted at 88 as of this writing. Toeing the same path, ETC’s Relative Strength Index was pegged at 63.79 in an uptrend. These positions indicated that ETC was overbought. Further, an assessment of ETC’s Bollinger Bands showed that the altcoin was severely volatile at press time. Although ETC’s price broke above the upper band of the indicator, which indicated a continuation of the bullish trend, the width between the upper and lower bands widened. This suggested high volatility.

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Ethereum Classic: Short traders could benefit if this support fails to holdDisclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion ETC price correction could break below $18.28 and settle at $17.60. A breakout above the bearish order block at $19.18 would invalidate the bias. ETC saw a slight decline in demand in the futures […]
Source: CryptoAmb - 🏆 22. / 68 Read more »