Ethereum Classic (ETC) crashed 18% between May 23 and June 3, heading towards its major support area of $28.53 and $26.67.
Ethereum Classic crashed 18% after retesting its resistance zone between $33.14 and $34.59. Investors could accumulate ETC at support levels extending between $28.53 and $26.67. A daily candlestick close below $25.26 would invalidate the bullish thesis. Ethereum Classic crashed 18% between May 23 and June 3, heading towards its major support area of $28.53 and $26.67. A correction to this area could be a buying opportunity for investors before the second leg higher.
59 bearish order block, where market heavyweights have previously placed sell orders in this zone. As a result, ETC has crashed 18% and currently trades at $28.63. Sidelined buyers could scoop ETC between $28.50 and $27.12, which are the 50% and 61.8% Fibonacci retracement levels drawn from the swing high of $34.32 on May 23 and swing low of $22.67 on April 13, respectively. If ETC bounces off the $28.
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