Ethereum Classic Sees Bullish Outlook Despite 11% Price Correction
The Ethereum Classic (ETC) price has experienced an 11% correction in recent days, but analysts still believe that a bullish structure is in place. According to BitRss, this corrective move is seen as a healthy sign for the market, rather than a cause for concern.
Despite the short-term setback, technical indicators suggest that ETC's uptrend remains intact. A key level of support has been established at around $35.40, and if it holds, the price could potentially break through to new highs in the coming days.
This assessment comes from a review of ETC's price charts, which show a clear upward trend since mid-2023. Additionally, the Relative Strength Index (RSI) remains in overbought territory, indicating that the market is still firmly bullish on the asset.