Ethereum Classic: These levels could be the demand zone next week - BitcoinEthereumNews.com
Pinagmulan: ETC / USDT sa TradingView On 12 May, ETC dropped from $20 to $16 and managed to bounce to $21 on 13 May. This highlighted the entire area between $16-$18 as a strong demand zone. From this zone, ETC was able to see a large bounce. Pinagmulan: ETC / USDT sa TradingView The Relative Strength Index (RSI) on the 12-hour chart has struggled to stay above the neutral 50. In the past two months, every foray above this level was an unenthusiastic adventure. The RSI was far more inclined to go southward. This suggested a bearish trend was dominant in recent months. The On-Balance Volume (OBV) also found it hard to push higher and has slowly slipped lower to make a series of lower highs like the price. This indicated high selling volume and a lack of strong demand to reverse the downtrend. The Chaikin Money Flow (CMF) has been above the +0.05 mark in recent days to show the influx of significant capital into the market. However, it too turned southward as of 29 June. Konklusyon Considering Ethereum Classics scenario on the price charts, another push downward appeared likely. The selling pressure was mounting once more, and the momentum remained bearish on the higher timeframes.