The Ethereum Classic price has been highly bearish since the beginning of September, but it quickly recovered and stabilized at $38.00 for a few days. The conflict between the bulls and bears persisted, the bears quickly took charge, and the ЕТЦ цена пао на 27.72 долара.
The prices quickly increased to equal highs set at $30.91, where they remained steady for more than a week before falling to $27.72. The bears dominated and pushed the prices below $27.72. The bulls made an attempt to rebound driving the price to $27.72 but are facing it difficult to surge the price above that level.
Prices for Ethereum Classic are currently sitting around $27.72 and are aiming to go higher. Investors must be prepared for a probable reversal that will lead the Ethereum Classic price to decrease because it is a probability that it will rise.
A 5% decline is expected soon, followed by a quick recovery. Ethereum Classic’s price might rise 17% to $30.91 at this time due to the current uptick in positive momentum. Traders can profit from the buy-stop above these highs by pushing the ETC prices to cross this level.
In contrast, if the Ethereum Classic price keeps piercing through the $22.88 to $26.30 demand zone without responding to it, it will be a sign of an extreme increase in the selling pressure. In order to refute the bullish case, ETC may produce a daily candlestick below the demand zone if the trend persists. This could prompt a retest of the $20 psychological price barrier for the asset.
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Source: https://coinpedia.org/price-analysis/ethereum-classic-price-to-retest-the-20-does-it-indicate-a-revival-of-a-bearish-trend/