etherum classic
etherum classic making new ATH

Ethereum Classic – New All-Time High with Unusual Volume Spike

The altcoin has today 7.04 billion dollars(USDT) volume, crossing 5.42 billion dollars of Dogecoin.

Yesterday we witnessed a huge volume spike in Ethereum Classic as 153,329,670$ worth of ETC was traded in just 5 minutes. It touched the 179.830$ price mark with the gain of 39.9$ which is 42.47% of the price in 24 hours. Surprisingly, this strange volume spike is 13 times the average volume of ETC/USDT.

After a little price correction to 117$ down, ETC is gaining the hold to 150$ region with an RSI (Relative Strength Index) of 60 which still is average considering yesterday’s flight of RSI 94.6.

Ethereum classic graph analysis
Ethereum classic H1 Graph Analysis

The graph shows an ascending triangle with price fluctuations having an RSI of 60 which is a bit flat though. Ethereum Classic has two main supports at 122$ and 91$ and psychological resistance at 180$.

The price is making support of 14 and 21 EMA and a bullish cross, which could be taken as a, well, bullish signal by the traders. The chart is breaking the neutrality to bullishness. If the triangle broke, we should expect new highs and it can soar up to 200$ or maybe 250$, as long as the Bitcoin dominance remains below 50%.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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