THELOGICALINDIAN - Ethereum archetypal amount is convalescent boring adjoin the US Dollar and Bitcoin ETCUSD needs a breach aloft 1100 to accretion added momentum
Ethereum Classic Price Resistance
There was an access in bearish pressure on ETC amount beneath $11.00 adjoin the US Dollar. The amount beneath and traded as low as $9.85 area it begin abutment and after started a recovery. It confused aloft the 23.6% Fib retracement akin of the aftermost abatement from the $13.20 aerial to $9.85 low. There was alike a move aloft the $10.50 akin and the 100 alternate simple affective average, which is a absolute sign.
However, buyers are disturbing to booty the amount aloft the $11.00 level. There is a concise application triangle arrangement basic with attrition at $10.80 on the alternate blueprint of ETC/USD. Moreover, the 38.2% Fib retracement akin of the aftermost abatement from the $13.20 aerial to $9.85 low is abreast $11.10. The brace has to breach the $10.80 and $11.00 attrition to accretion momentum. The abutting stop could be the 50% Fib retracement akin of the last decline from the $13.20 aerial to $9.85 low at $11.50.
On the downside, an antecedent abutment is at $10.50 and the 100 alternate simple affective average. If the brace fails to authority the $10.50 support, there is a accident of a downside breach appear $10.00 in the abreast term.
Hourly MACD – The MACD is now assuming any above signs of an upside break.
Hourly RSI – The RSI is aloof about the 50 level.
Major Support Level – $10.50
Major Resistance Level – $11.00
