THELOGICALINDIAN - Ethereum archetypal amount continued its abatement beneath 000145BTC and remained at a accident of a move appear the allimportant 000140BTC
Ethereum Classic Price Continuing Losses
ETC Classic amount fabricated another downside move, and bankrupt yesterday’s low of 0.00146BTC against the Bitcoin. A new account low of 0.00143BTC was formed. I was attractive for a analysis of 0.00145BTC this anniversary and we assuredly got it. I still accept there is alike a adventitious of a analysis of 0.00140BTC if the accepted trend continues. There is a lot of bearish burden at the moment on ETC, and it may abide to abatement in the abreast term.
There was a move bygone appear the 23.6% Fib retracement akin of the bead from the 0.00161BTC aerial to 0.00148BTC low, but the beasts could not accomplish it. As a result, there was a downside reaction. The amount bankrupt the 0.00145BTC abutment as able-bodied to barter as low as 0.00143BTC. If the amount attempts to actual higher, afresh this week’s accent bearish trend band on the alternate blueprint of ETC/BTC (data augment via Simplefx) may afresh act as a resistance.
Additionally, the new formed 23.6% Fib retracement akin of the bead from the 0.00161BTC aerial to 0.00143BTC low can additionally be apparent as a hurdle for an upside move.
Hourly MACD – The MACD connected to break in the bearish zone.
Hourly RSI – The RSI is about the oversold readings, but with no assurance of recovery.
Major Support Level – 0.00143BTC
Major Resistance Level – 0.00148BTC
Charts address – SimpleFX
