Ethereum Classic rises 17 % to a rise of 6 months from 25 dollars star-news.press/wp

Main meals

Ethereum Classic increased by 17 % to $ 25.59, with a size of $ 1 billion and $ 3.9 billion per market, at the time of the press. Although the excessive RSI in the purchase conditions area and its height, strong purchase and accumulation can pay and other dollars about $ 29 or lead to withdrawal.

Ethereum Classic (ETC) increased by 17.27 % to the highest level in 6 months at $ 25.59 before restoring a little to $ 24.8 at the time of the press.

Over the same period, the trading volume exceeded one billion dollars, which represents an increase of 290 %, which reflects a large capital flow. Likewise, the market value in Altcoin was $ 3.9 billion for the first time in 6 months.

But why do you appear etc. etc.

Classic buyers ethereum come back strongly

Interestingly, while buyers have declined across the encrypted currency market, Ethereum Classic has increased demand.

On the eighteenth of July, the purchase of a spot of 3.57 million, compared to a sale volume of 3.08 million, according to Coinalyze.

The same style was observed on July 19, with Altcoin 685K registration in the purchase volume compared to 623 kilos in the sales volume.

Source: Coinalyze

As a result, the immediate market recorded two consecutive days of positive sale, in 492 km and 61 thousand, respectively.

Derivatives of betting against the assembly

It is worth noting that while buyers rushed to the market, they seem to have also taken strategic positions, waiting for the next step.

According to Coinglass, the open interest of Ethereum Classic (OI) jumped by 28.2 % to $ 313 million, while the derivative volume increased by 213.5 % to $ 2.43 billion, as of writing.

Source: Coinglass

Usually, when OI and the size of the size rise in synonym, it indicates an increase in participation in the futures market and high capital flow while opening new jobs.

Surprisingly, despite the high prices, investors appeared to have rushed to the concrete futures against the assembly. A long -long face -to -face rate failed, and she is currently sitting about 0.97.

When the long story ratio is less than one, this means that more investors open short sites of long situations.

The seizure profit

It is not surprising, as I gathered etc., and so did the appetite for profit. According to Coinglass, the Exchange Netflow rose to $ 10.37 million, then decreased to $ 1.28 by the journalism time.

Source: Coinglass

Such a tremendous height in Exchange Netflow indicates that investors who have been underwater during the past six months are vigorously spent.

Historically, this investor behavior has already decreased prices with a declining pressure on rising prices.

Can the bulls be withstanded?

According to Ambrypto analysis, Ethereum Classic has occupied strong fluctuations in market fluctuations with buyers flow to the market for accumulation.

As a result, RSI random RSI in Altcoin rose to 100, indicating a state of peak purchase. Likewise, the RSI Index increased to 86, as it also reached the level of peak purchase.

Source: TradingView

When both momentum indicators reach levels of their arms, they confirm high purchase pressure but also warn against increased volatility.

Nevertheless, if buyers continue to accumulate, Ethereum Classic is likely to recover its upward momentum and targets $ 29.

However, if the momentum fades due to the exhaustion of Jupiter, we will likely see a decline to $ 20.80.