As ETC retests $23.3 as resistance, could extended losses bring $13 in sight

📆 11/14/2022 12:35 AM
📰 CryptoAmb

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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice The higher timeframe structure is bearish for Ethereum Classic Some respite was seen at $18.3, but this bounce was short-lived USDT Dominance (Tether Dominance) rose to 8.53%, the highest value it reached since mid-June. Investor […]

faced intense bearish pressure. It appeared that selling pressure could continue to dominate, although volatility can also be expected in the coming days.The Relative Strength Index on ETC’s daily chart was back beneath the natural 50 mark. This showed that momentum was in favor of the bears once more. At the same time, the On-Balance Volume has also been in decline over the past few days. However, the OBV was yet to break a level of support from October.

Until ETC can move back above $22.96, it would continue to have a bearish bias. To break the structure and affirm an uptrend, Ethereum Classic must push past the $27.23 mark.

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