THELOGICALINDIAN - Ethereum archetypal amount beneath afresh adjoin the US Dollar and Bitcoin ETCUSD now faces abounding hurdles on the upside abreast 27002800 in the abreast term
Ethereum Classic Price Resistance
There was a decent rise in ETC amount aloft the $30.00 akin adjoin the US Dollar. The amount traded as aerial as $32.05 afore starting a downside move. There was a aciculate access in affairs burden and the amount confused beneath the $30.00 and $28.00 abutment levels. It alike traded beneath the $25.00 abutment and formed a low abreast $22.12. It after started an upside alteration and confused aloft the 38.2% Fib retracement akin of the aftermost abatement from the $32.05 aerial to $22.12 low.
However, the burst abutment abreast $27.00 is now acting as a resistance. The 50% Fib retracement akin of the aftermost abatement from the $32.05 aerial to $22.12 low is additionally abreast $27.00. Moreover, there is a above bearish trend band basic with attrition at $27.00 on the alternate blueprint of the ETC/USD pair. Therefore, the $27.00-28.00 levels are actual important for more gains in ETC.
A breach aloft $28.00 is bare for ETC to retest the $30.00 level. On the downside, the $24.00 akin is a appropriate support. However, the best important abutment is at $22.00, which is a axis area. The amount charge break aloft $22.00 to abide in the bullish zone.
Hourly MACD – The MACD for ETC/USD is slight in the bullish zone.
Hourly RSI – The RSI for ETC/USD is affective lower appear the 40 level.
Major Support Level – $22.00
Major Resistance Level – $28.00
Charts address – Trading View, Kraken
