Did Ethereum Classic [ETC] climb above a recent high-volume node

Disclaimer: The findings of the next evaluation are the only opinions of the author and shouldn’t be thought-about funding recommendation

Bitcoin climbed again above the $30k mark in latest hours, and the Bitcoin Dominance metric was falling on 17 Could. This may very well be an early signal that, over the subsequent couple of days, altcoins may very well be set to rally from their latest lows.

The value motion of Ethereum Traditional didn’t actually favor both the bulls or the bears, though the indications confirmed a slight bullish bias. Now the query is- Do the patrons have sufficient energy to maneuver ETC northward to the $23-$24 space?

ETC 1-Hour Chart

Ethereum Classic climbs above a recent high-volume node, are the bulls back?

Supply: ETC/USDT on TradingView

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The Quantity Profile Seen Vary confirmed the Level of Management to lie at $20.89. That is the extent the place essentially the most buying and selling, by quantity, has occurred within the vary seen on the charts. The Worth Space Highs and Lows lie at $25.5 and $16.86 respectively for ETC.

For the reason that value was buying and selling above the POC, it meant that the bulls had some energy, and will drive costs towards the subsequent node of excessive buying and selling quantity at $24.

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So long as the value stays above the $20 mark, there’s a probability that the costs will be pushed greater by patrons.


Ethereum Classic climbs above a recent high-volume node, are the bulls back?

Supply: ETC/USDT on TradingView

The RSI on the hourly chart climbed above impartial 50 as soon as once more, nevertheless, it has been oscillating between the 40 and 60 values previously 4 days. Due to this fact, the momentum was impartial with a bullish tinge, as every transfer upward was defended.

The MACD was on the verge of climbing above the zero line as effectively, and it could be one other sign of bullish momentum for ETC. Within the meantime, the A/D indicator was, very slowly, rising previously few days. Therefore, the inference is that bulls had a slight higher hand in latest days.


The bulls have been capable of push ETC above the POC, and there was some faint shopping for strain previously few days. Due to this fact, a rally upward will be anticipated for Ethereum Traditional.

Nonetheless, whereas this was a chance, Bitcoin was additionally prone to have an enormous affect on the course of the Ethereum Traditional within the subsequent few hours. As issues stand, the low timeframe bias for ETC leaned towards the bulls.

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