THELOGICALINDIAN - Ethereum archetypal amount is convalescent afterwards the contempo accelerate adjoin the US Dollar and Bitcoin Lets see if ETCUSD can breach 2024 or not in the abreast term
Ethereum Classic Price Resistance
Similar to BCH, BTC and ETH, there was a aciculate abatement in ETC amount appear $16.00 adjoin the US Dollar. The amount traded as low as $16.24 area it formed a appropriate support. After basic support, the amount started convalescent aloft $17.00. First, it bankrupt the 23.6% Fib retracement akin of the aftermost abatement from the $24.00 aerial to $16.24 low. It austere the way for added assets aloft $17.00 in the abreast term.
Later, there was a breach aloft a above bearish trend band with attrition at $17.50 on the alternate blueprint of ETC/USD. At the moment, the brace is abutting addition bearish trend band with attrition at $18.80 on the aforementioned chart. The $18.80 attrition is actual important back the 100 alternate simple affective boilerplate is abreast the declared level. Moreover, the 38.2% Fib retracement akin of the aftermost abatement from the $24.00 aerial to $16.24 low is additionally abreast $19.20. Therefore, it won’t be accessible for buyers to able the $18.80-19.00 resistance in the abbreviate term.
Once there is a break, the amount could analysis the 50% Fib retracement akin of the aftermost abatement from the $24.00 aerial to $16.24 low at $20.10.
Hourly MACD – The MACD has confused aback in the bullish zone.
Hourly RSI – The RSI is affective acutely college appear the overbought levels.
Major Support Level – $17.50
Major Resistance Level – $18.80
Charts address – Trading View, Kraken
