THELOGICALINDIAN - Ethereum archetypal amount adapted a few credibility against the US Dollar and Bitcoin and ETCUSD is currently adverse a boxy barrier abreast 1500
Ethereum Classic Price Support
During the accomplished two days, there was a lot of action in ETC amount as it confused aloft $19.00 adjoin the US Dollar. The amount traded as aerial as $19.81 area it faced sellers and started a alteration lower. The amount confused beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $13.20 low to $19.81 high. The alteration was aciculate and continued appear the 100 alternate simple affective boilerplate and $16.00.
There is a aloft abutment breadth basic aloft $16.50 on the alternate blueprint of ETC/USD. It additionally coincides with the 50% Fib retracement akin of the aftermost beachcomber from the $13.20 low to $19.81 high. Furthermore, the 100 alternate simple affective boilerplate is additionally at $16.00. Lastly, there is a abutting bullish trend band with abutment beneath $16.00 on the alternate chart. Clearly, the $16.00-16.50 abutment area is a aloft barrier for sellers in the abreast term.
As continued as the amount is aloft the $16.00 akin and the 100 alternate SMA, it may animation back. On the upside, an antecedent attrition is about the $18.00 handle. Aloft $18.00, the amount may attack a breach aloft the $19.00 level. In the abbreviate term, we may see moves amid $16.00-20.00.
Hourly MACD – The MACD is attempting to move aback in the bullish zone.
Hourly RSI – The RSI is currently affective higher, but still beneath the 50 level.
Major Support Level – $16.00
Major Resistance Level – $18.00
Charts address – Trading View, Kraken
