THELOGICALINDIAN - Ethereum archetypal amount is disturbing and ambit trading against the US Dollar and Bitcoin ETCUSD has to bright 1500 for an upside move
Ethereum Classic Price Upside Hurdle
Recently, we saw a major downside break beneath $16.00 in ETC amount adjoin the US Dollar. The amount traded appear the $13.50 akin area it begin abutment and after started a recovery. It addition managed to move aloft the 23.6% Fib retracement akin of the aftermost abatement from the $17.60 aerial to $13.41 low. However, there was no acceptable breach aloft $14.50, which is not a acceptable sign. It seems like the amount is accumulation beneath the $15.00 attrition and advancing for the abutting move.
On the upside, there is a aloft bearish trend band with attrition abreast $14.80-15.00 basic on the alternate blueprint of ETC/USD. The trend band attrition coincides with the 38.2% Fib retracement akin of the aftermost abatement from the $17.60 aerial to $13.41 low. Furthermore, the 100 alternate simple affective boilerplate is additionally abreast $15.00. Overall, it seems like the $15.00 akin is a aloft attrition for an upside breach for ETC. A abutting aloft the 100 alternate simple affective average could accessible the doors for a analysis of the $16.50 hurdle.
On the downside, the $14.00 akin is a appropriate support. In short, we can see alignment moves afore the amount attempts an upside break.
Hourly MACD – The MACD is about collapsed in the bearish zone.
Hourly RSI – The RSI is currently aloof about the 50 level.
Major Support Level – $14.00
Major Resistance Level – $15.50
Charts address – Trading View, Kraken
