{"id":166468,"date":"2023-10-02T10:51:12","date_gmt":"2023-10-02T05:21:12","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=166468"},"modified":"2023-10-02T10:51:12","modified_gmt":"2023-10-02T05:21:12","slug":"ethereum-classic-reclaims-16-will-traders-go-long-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-classic-reclaims-16-will-traders-go-long-crypto-news\/","title":{"rendered":"Ethereum Classic reclaims $16: Will traders go long? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><i><span style=\"font-weight: 400\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/span><\/i><\/p>\n<ul>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">ETC mounted above a sticky hurdle in September.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">The Futures market was bullish; more players shorted the asset.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/ETC\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Ethereum Classic [ETC]<\/span><\/a><span style=\"font-weight: 400\"> was ecstatic to extend its September recovery gains to October. It rallied +10% from 26 September and traded at $16.48 at press time. The rally cleared a sticky roadblock at $16 and could offer buyers more benefits if <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/btc\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Bitcoin [BTC]<\/span><\/a><span style=\"font-weight: 400\"> doesn\u2019t post immediate losses.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">Is your portfolio green? Check out the <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/ethereum-classic-profit-calculator\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">ETC Profit Calculator<\/span><\/a><span style=\"font-weight: 400\">\u00a0<\/span><\/p>\n<hr \/>\n<h4>Can bulls extend the rally?<\/h4>\n<div id=\"attachment_347874\" style=\"width: 1960px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETCUSDT_2023-10-01_13-37-31.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-347874\" class=\"size-full wp-image-347874\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETCUSDT_2023-10-01_13-37-31.png\" alt=\"Ethereum Classic\" width=\"1950\" height=\"1109\" \/><\/a><\/p>\n<p id=\"caption-attachment-347874\" class=\"wp-caption-text\">Source: ETC\/USDT on TradingView<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">Price chart indicators were bullish on the asset on the H12 timeframe at press time. Notably, the RSI steadily increased and hit the oversold entry point, denoting the spike in buying pressure since late September.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In addition, the CMF also forayed above zero, albeit sluggishly, denoting slow but steady capital inflows into the ETC market over the same period.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The price rally cleared the sticky resistance zone of $15.58 \u2013 $16.00 (cyan), flipping the H12 market structure to a bullish bias.<\/span><\/p>\n<p><span style=\"font-weight: 400\">So, the next target for bulls is the roadblock at $18 if they clear the immediate $17 hurdle. Such a move could present a potential 4.6% or 10% gain at $17 and $18, respectively.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">A slip below the September resistance zone of $15.58 \u2013 $16.00 (cyan) will invalidate the bullish thesis.\u00a0<\/span><\/p>\n<h4>The Futures market flashed mixed signals<\/h4>\n<div id=\"attachment_347875\" style=\"width: 1870px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETC-long_short-ratio.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-347875\" class=\"size-full wp-image-347875\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"Ethereum Classic\" width=\"1860\" height=\"501\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETC-long_short-ratio.png 1860w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETC-long_short-ratio-300x81.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETC-long_short-ratio-1024x276.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETC-long_short-ratio-768x207.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETC-long_short-ratio-1536x414.png 1536w\" data-lazy-sizes=\"(max-width: 1860px) 100vw, 1860px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETC-long_short-ratio.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-347875\" class=\"size-full wp-image-347875\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/ETC-long_short-ratio.png\" alt=\"Ethereum Classic\" width=\"1860\" height=\"501\" \/><\/a><\/p>\n<p id=\"caption-attachment-347875\" class=\"wp-caption-text\">Source: Coinglass<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">At press time, ETC\u2019s Futures market flashed conflicting signals. Notably, more players were <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/LongShortRatio\" data-wpel-link=\"external\"><span style=\"font-weight: 400\">shorting<\/span><\/a><span style=\"font-weight: 400\"> the asset on the daily timeframe for the past few days, as shown by the ETC Long\/Short Ratio. It meant that they expected prices to drop in the near future.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">How much are <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-etc-to-usd\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">1,10,100 ETCs worth today<\/span><\/a><span style=\"font-weight: 400\">?\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">However, the Open Interest rates and trading volume were bullish. Both metrics were up +180% and +10%, respectively, at press time. It denotes a demand and trading activity spike in the past 24 hours before press time.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">So, the conflicting signals call for tracking of BTC price action for clear market direction and risk mitigation.\u00a0<\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion. ETC mounted above a sticky hurdle in September.\u00a0 The Futures market was bullish; more players shorted the asset.\u00a0 Ethereum Classic [ETC] was ecstatic to extend its September recovery gains to October. It rallied +10% [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":166469,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-166468","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/166468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=166468"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/166468\/revisions"}],"predecessor-version":[{"id":166471,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/166468\/revisions\/166471"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/166469"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=166468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=166468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=166468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}