Ethereum Classic soars 17% – What’s fueling ETC’s 6-month high?
2025-07-19 12:04:43
Main Idea
Ethereum Classic (ETC) surged 17% to a 6-month high of $25.59 amid strong buying demand, but rising sell-side risks and overbought conditions suggest potential volatility ahead.
Key Points
1. Ethereum Classic (ETC) rose 17.27% to $25.59, with trading volume exceeding $1 billion (a 290% increase) and market cap reaching $3.9 billion.
2. Spot market data showed consecutive days of positive buy-sell delta, indicating sustained demand despite broader market corrections.
3. Derivatives market activity surged, with Open Interest (OI) up 28.2% to $313 million and Derivatives Volume rising 213.5% to $2.43 billion, signaling increased short positions.
4. Exchange Netflow spiked to $10.37 million before dropping, suggesting profit-taking by holders.
5. Technical indicators (Stochastic RSI at 100 and RSI at 86) show ETC is overbought, raising the possibility of a pullback if buying momentum weakens.
Description
Ethereum Classic 17% to a 6 month high of $25.59 amid sustained demand. Sell side risk is however rising as holders cash out
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