Ethereum Classic broke out of a long-term downtrend; here’s where you can buy in - Aliens: AI Crypto News & Markets Updates
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Ethereum Classic broke out of a long-term downtrend; here’s where you can buy in

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AMB Crypto

Thu, Jan 20, 2022

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Aliens TLDR

It flipped a former area of supply at $31 into an area of demand and repeatedly tested the $33.5-resistance level over the past week.

The trendline resistance (white) extended back to early November and has rejected the price multiple times since then.

In mid-January, this resistance level was tested and the price dipped back to $30.3 to confirm the market structure break from bearish to bullish.

Until then, the $30.5 and $33.5 areas can be used to buy and sell ETC at, as the past week’s price action resembled a range.

In the next few hours, if the RSI can climb back above neutral 50 on the hourly chart and the Volume Oscillator could also see an uptick, it would be a bullish sign.

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