$ETC price brushed up against 8.36, nearly hitting the 94% high of its 24-hour range. But can you believe it? An established public blockchain saw its daily trading volume shrink to just $7.8 million.
The buy orders in the order book are paper-thin, with only a smattering of bids—there’s no real money supporting the price below. A low-volume rally like this isn’t strength; it’s pure puffery caused by a vacuum in buying pressure.
There’s strong resistance at 8.38, and no depth of support below. Even a tiny amount of selling pressure could drive the price down sharply at very little cost. Would I bet on a breakout against this flimsy order book right at resistance? I’d rather place a short in the direction of the trend at these elevated levels.
#以太坊突破2500USDT #ETC $ETC
#MAGIC $MAGIC
👇
The buy orders in the order book are paper-thin, with only a smattering of bids—there’s no real money supporting the price below. A low-volume rally like this isn’t strength; it’s pure puffery caused by a vacuum in buying pressure.
There’s strong resistance at 8.38, and no depth of support below. Even a tiny amount of selling pressure could drive the price down sharply at very little cost. Would I bet on a breakout against this flimsy order book right at resistance? I’d rather place a short in the direction of the trend at these elevated levels.
#以太坊突破2500USDT #ETC $ETC
#MAGIC $MAGIC
👇