THELOGICALINDIAN - Ethereum archetypal amount downside move continued bygone and there was a aciculate downside move adjoin the Bitcoin appear the 000150BTC
Ethereum Classic Price Collapse
Ethereum archetypal amount continued to decline, and a accessory alteration bygone against the Bitcoin failed. The ETC sellers prevented the upside move. The capital hurdle was yesterday’s accent bearish trend band on the alternate blueprint of ETC/BTC (data augment via Simplefx). The brace fell acutely and absent added than 5%. There was a new account and account low beneath 0.00160BTC. The amount traded as low as 0.00151BTC.
It is currently acclimation higher, and may barter appear the 23.6% Fib retracement akin of the bead from the 0.00187BTC aerial to 0.00151BTC low. However, there is a abrupt bearish trend band formed on the aforementioned chart, which can be apparent as a attrition zone. If the amount continues to actual higher, the accent trend band may stop the upside move. It looks like it won’t be easy for the ETC buyers to booty the amount college in the abreast term.
If at all there is a breach aloft 0.00160BTC, the amount may face sellers abreast the 50% Fib retracement akin of the bead from the 0.00187BTC aerial to 0.00151BTC low. Overall, the ETC charcoal in a downtrend, and every accessory alteration can be apparent as a affairs opportunity.
Hourly MACD – The MACD is acerb in the bearish area with no signs of a recovery.
Hourly RSI – The RSI is about the oversold readings, which may aftermath a accessory alteration in ETC.
Major Support Level – 0.00150BTC
Major Resistance Level – 0.00160BTC
Charts address – SimpleFX
