THELOGICALINDIAN - Ethereum archetypal amount is attempting an upside breach against the US Dollar and Bitcoin ETCUSD has to accretion drive aloft 1450 for added gains
Ethereum Classic Price Resistance
During the accomplished week, ETC amount mostly struggled and traded beneath the $15.00 and $14.00 supports adjoin the US Dollar. The amount traded as low as $13.23 area it begin abutment and after started recovering. It managed to move aloft the 23.6% Fib retracement akin of the aftermost abatement from the $16.40 aerial to $13.23 low. There was alike a breach aloft a acute bearish trend band with attrition abreast $14.00 on the alternate blueprint of ETC/USD.
However, the upside move was capped by the $14.50 attrition and the 100 alternate simple affective average. Moreover, the 38.2% Fib retracement akin of the aftermost abatement from the $16.40 aerial to $13.23 low prevented added gains. Currently, the amount is basic a concise bottomward approach with attrition at $14.00 on the aforementioned chart. Once there is a abutting aloft the $14.50 attrition and the 100 alternate simple affective average, there can be more gains.
On the downside, the $13.50 abutment and the aftermost beat low abreast $13.23 ability abide to authority declines. No doubt, buyers defective momentum, and it won’t be accessible to breach the $14.50 resistance. The abutting above attrition is about the 50% Fib retracement akin of the aftermost abatement from the $16.40 aerial to $13.23 low at $14.78.
Hourly MACD – The MACD is currently collapsed and suggesting consolidation.
Hourly RSI – The RSI is currently affective lower appear the 40 level.
Major Support Level – $13.20
Major Resistance Level – $14.50
Charts address – Trading View, Kraken
