ETC Sharp Go High for 6 Months As Volume And Open Interest Dem Rise
Ethereum Classic (ETC) don continue to dey rally dis week, e surge as much as 38% after breakout pass $21.48 go reach six-month high near $25.59. Daily trading volume jump more than 230%–290% reach over $1 billion, wey push ETC market cap go around $3.9 billion. For derivatives side, futures open interest climb from $250 million to $313 million—the highest since November—while total derivatives volume reach over $2.4 billion. Spot buy-sell delta readings stay positive two days in a row, show say buyers demand dey strong, even though long-short ratio remain below 1 'cause some people dey put contrarian bets. Exchange netflow peak for $10.37 million before e calm down, show say some late buyers dey do profit-taking. Technical indicators for 4-hour chart talk say ETC dey trade above 20-EMA and middle Bollinger Band, with RSI and Stochastic RSI dey for overbought area (86 and 100), warn say volatility fit increase. Immediate resistance dey around $26–$28, with next target near $29; key support dey $22–$23, or about $20.80 if deep pullback happen.
Bullish
Strong volume and open interest gains dey show say traders get solid confidence and buying demand steady for Ethereum Classic. When price break pass important resistance levels plus two days of positive spot buy-sell delta, e confirm say bullish momentum dey. Even though overbought RSI readings dey warn say short-term price fit waka ups and downs, overall market feeling and derivatives flow dey point say price fit still go up reach $29, with price fit fall go $22–$23 provide new entry chances.