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Assessing the odds of Ethereum Classic eyeing an immediate 13% hike
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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice
Ethereum Classic has oscillated within its 38.2% and 23.6% Fibonacci levels since early October, with breakouts on either side rejected immediately. However, the market’s bulls, at press time, were attempting to turn the tide in their favor following a recovery along the RSI and MACD.
A potential rally awaited ETC should its price break above its immediate price ceiling backed by good buy volumes. At the time of writing, ETC was trading at $56.08, up by 1.5% over the last 24 hours.
Source: ETC/USD, TradingView
Ethereum Classic has seen two breakouts from its current channel between the 38.2% and 23.6% Fibonacci
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