THELOGICALINDIAN - Ethereum archetypal amount struggled to advance assets adjoin the US Dollar and Bitcoin ETCUSD charge authority the 3000 abutment breadth to abide to balance aback aloft 3500
Ethereum Classic Price Support
There was a nice upside move in ETC amount aloft the $38.00 akin afresh adjoin the US Dollar. However, the amount bootless to break in the bullish zone, confused bottomward and bankrupt the $37.00 and $35.00 abutment levels. The abatement was such that the amount confused beneath the $34.00 akin and the 100 alternate simple affective average. It is now assuming a few bearish signs back it bankrupt the $32.00 akin and activated the $30.00 handle.
During the downside, there was a breach beneath a abutting bullish trend band with abutment at $34.50 on the alternate blueprint of the ETC/USD pair. The brace recovered after and is currently affective about the 23.6% Fib retracement akin of the aftermost bead from the $39.15 aerial to $30.46 low. However, the burst abutment at $34.00 may now act as a attrition forth with the 100 alternate SMA. Moreover, the 50% Fib retracement akin of the last drop from the $39.15 aerial to $30.46 low is additionally about $34.50.
Therefore, the $34.00-34.50 akin is a aloft attrition breadth on the upside. On the downside, the brace needs to break aloft the $30.00 akin to abstain any added declines in the abreast term.
Hourly MACD – The MACD for ETC/USD is accepting clip in the bearish zone.
Hourly RSI – The RSI for ETC/USD is affective lower and is currently about the 30 level.
Major Support Level – $30.00
Major Resistance Level – $34.00
Charts address – Trading View, Kraken
