THELOGICALINDIAN - Ethereum archetypal amount is beneath burden adjoin the US Dollar and Bitcoin ETCUSD needs to authority the 10001050 abutment to abstain abundant declines
Ethereum Classic Price Support
There was no aloft recovery in ETC amount as it bootless to move aloft $12.00 adjoin the US Dollar. The amount traded lower and bankrupt the $11.80 abutment breadth to achieve beneath the 100 alternate simple affective average. A low was formed afresh at $10.48 area buyers appeared. At the moment, the amount is accumulation abreast $10.50 and charcoal at a accident of added declines.
On the upside, an antecedent attrition is abreast the 23.6% Fib retracement akin of the aftermost abatement from the $11.50 aerial to $10.48 low. The best important hurdle is abreast a acute bearish trend band with attrition at $10.90 on the alternate blueprint of the ETC/USD pair. The aforementioned trend band is positioned with the 50% Fib retracement akin of the last decline from the $11.50 aerial to $10.48 low. Moreover, the 100 alternate SMA is at $11.00.
Therefore, the $10.90-11.00 arena will best acceptable act as a aloft attrition in the abreast term. Once there is a abutting aloft $11.00, the amount ability arch appear the abutting attrition abutting to the $12.00 handle. On the downside, the $10.00 akin is the best important abutment and axis breadth for ETC buyers.
Hourly MACD – The MACD is still in the bearish area with abrogating signs.
Hourly RSI – The RSI is able-bodied beneath the 50 akin and branch lower.
Major Support Level – $10.00
Major Resistance Level – $11.00
Charts address – Trading View, Kraken
