EthereumClassic [ETC] rebounds from $20.8, what's next for the bulls?
sat on a strong level of support at $21.6k. The recent drop filled the imbalance on BTC’s price chart. It appeared likely that upward momentum can continue once more after flushing out late but overeager bulls.The $20.8 level has been important since early January. Ethereum Classic has traded within the range since 14 January. The range extended from $20 to $23.9, with the mid-point at $21.95. The mid-point has been a short-term significant level of support and resistance over the past month.
A move back above the mid-range mark and a subsequent retest can be a buying opportunity. Alternatively, a move to the range lows at $20, which is also a psychological support level, could see a bounce toward the range highs.9 February saw $1.5 million worth of long positions liquidated in the span of four hours. This was when the price slipped from $22 to reach the $20.4 mark.
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