Ethereum Classic [ETC] concluded the second half of September on a bearish note that resulted in a support retest. The bearish momentum notably weakened but ETC continues to tread lower after failing to bounce from support. ETC bears demonstrated strong momentum up until 22 September. This resulted in a retest of support at the $27.88 […]
concluded the second half of September on a bearish note that resulted in a support retest. The bearish momentum notably weakened but ETC continues to tread lower after failing to bounce from support.
ETC’s Moving Average Convergence Divergence indicator also demonstrated an interesting observation that may point toward an upcoming pivot. Bullish volumes were tapering out and this could be an indication that the bulls might get a chance to take over.Furthermore, the MACD line was headed for a crossing above the signal line, an outcome that would signal bullish volumes. Additionally, some of ETC’s on-chain metrics underscored observations that might favor a bullish pivot.
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