THELOGICALINDIAN - Ethereum archetypal amount remained in a declivity against BTC and it looks like there is a lot of accident at the moment for added losses in ETC
Ethereum Classic Price Resistance
Ethereum archetypal amount ETC struggle continues, as it bootless to acquisition buyers against Bitcoin. There is a apathetic and abiding declivity acclaimed for ETC/BTC with a abutment on the downside at 0.0030BTC. There is a above bearish trend band formed on the alternate blueprint of ETC/BTC (data augment via Simplefx). The trend band is currently acting as a attrition and preventing an upside move.
The best important point is that the amount is now beneath the 100 alternate simple affective average, which is addition attrition on the upside. All in all, the trend band forth with the 100 alternate SMA is a major hurdle on the upside. The amount is additionally adverse sellers abreast the 23.6% Fib retracement akin of the aftermost bead from the 0.00344BTC aerial to 0.00308BTC low.
I feel as continued as the amount is beneath the trend band and 100 SMA, there is a adventitious of added losses in the abbreviate term. The ETC sellers charge to breach the 0.0030BTC abutment akin in adjustment to booty the amount added down. The abutting stop on the downside could be about the 0.0026BTC.
Hourly MACD – The MACD is calmly placed in the bearish zone, and calling for added declines.
Hourly RSI – The RSI is beneath the 50 level, and assuming no signs of a accretion in ETC.
Major Support Level – 0.00300BTC
Major Resistance Level – 0.00320BTC
Charts address – SimpleFX
