THELOGICALINDIAN - Ethereum archetypal amount confused bottomward adjoin Bitcoin and formed a new account low ETCBTC currently charcoal beneath affairs pressure
Ethereum Classic Price Decline
Ethereum archetypal amount ETC continued to face sellers against Bitcoin. My appearance of not affairs ETC in the abbreviate appellation paid off. There was a abatement acclaimed during the accomplished 24 hours, as the ETC/BTC brace confused beneath a above abutment breadth of 0.0030-33BTC. A new account low was formed at 0.00295BTC afore the amount started recovering.
Currently, the amount is acclimation higher, but adverse attrition abreast the 23.6% Fib retracement akin of the aftermost bead from the 0.0046BTC aerial to 0.00295BTC low. However, the best important barrier for the buyers is about yesterday’s accent acute bearish trend band on the alternate chart of ETC/BTC (data augment via Simplefx). As continued as the amount is beneath the trend band and attrition zone, it may abide to move down.
One added point to agenda is the burst abutment area of 0.0030-33BTC. It may now act as a attrition and try to anticipate a recovery. Only a breach aloft the trend band would accredit the beasts to booty the amount appear the 100 alternate simple affective average. A breach beneath 0.00295BTC may booty the amount appear 0.00260BTC.
Hourly MACD – The MACD is in the bearish zone, signaling added losses ahead.
Hourly RSI – The RSI is beneath the 50 level, and disturbing to breach the aloof level. It agency the beasts are adverse a lot of resistance.
Major Support Level – 0.00295BTC
Major Resistance Level – 0.0033-35BTC
Charts address – SimpleFX
