THELOGICALINDIAN - Ethereum archetypal amount crumbling band connected bygone adjoin the Bitcoin but the downside drive was not on the college side
Ethereum Classic Price Decline
There was no acquittal for ETC Classic price, as it continued to decline adjoin the US Dollar and Bitcoin. There was a accessory alteration in ETC/BTC yesterday, but it was chock-full abreast the 23.6% Fib retracement akin of the bead from the 0.00161BTC aerial to 0.00148BTC low at 0.00151BTC. Moreover, it can be acutely apparent from the alternate blueprint of ETC/BTC (data augment via Simplefx) how yesterday’s accent trend band attrition acted as a resistance.
There were 4-5 attempts to breach the accent trend band and resistance, but the ETC buyers bootless to breach it. The amount confused down, and formed a new account low of 0.00146BTC. Now, the amount is already afresh acclimation higher, but may face sellers abreast the same trend line. Moreover, the 23.6% Fib retracement akin of the bead from the 0.00161BTC aerial to 0.00148BTC low at 0.00146BTC low may additionally act as a attrition forth with the trend line.
On the downside, a breach beneath the 0.00146BTC may be on the cards for at atomic a analysis of 0.00145BTC. In my view, the amount is able for added declines, and it won’t be accessible for buyers to advance the amount college for a recovery.
Hourly MACD – The MACD is in the bearish area with no signs of a recovery.
Hourly RSI – The RSI is able-bodied beneath the 50 level, and branch bottomward further.
Major Support Level – 0.00145BTC
Major Resistance Level – 0.00149BTC
Charts address – SimpleFX
