What Ethereum Classic buyers need to keep an eye on before going long

The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.The altcoin saw an uptrend in its social volumes while the long/short ratio affirmed a bearish edge.

While the $21-$22 range exhibited its inclinations to offer reliable support, ETC marked an ascending channel growth. Going forward, a sustained close below the up-channel can position the coin for a continued downside in the coming sessions. A close below the $22.54 support could enhance the downside chances.

In case the broader sentiment rekindles the buying pressure, any immediate recoveries would likely slam into the $26 ceiling before the upper trendline of the up-channel.

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Ethereum slides rapidly as structure shifts bearish, could more losses followDisclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice Ethereum saw a large selling volume and shifted the lower timeframe structure to bearish Technical indicators and futures traders both showed further losses were possible At the time of writing, the previous 24 hours had […]
Source: CryptoAmb - 🏆 22. / 68 Read more »