THELOGICALINDIAN - Ethereum archetypal amount remained beneath a bearish burden against the Bitcoin and it looks like the ETC sellers may attack to anatomy a low soon
Ethereum Classic Price Upside Hurdle
Ethereum archetypal amount remained beneath the attrition area as accent in yesterday’s post. The accent bearish trend band on the alternate blueprint of ETC/BTC (data augment via Simplefx) is still alive and attention gains. I mentioned two things yesterday. First, it won’t be accessible for the beasts to breach the resistance. Second, there is a admonishing assurance for the sellers in the anatomy of a bifold basal arrangement abreast 0.00182BTC.
I anticipate both the altitude are still in play. On the upside, the 23.6% Fib retracement akin of the bead from the 0.00206BTC aerial to 0.00182BTC low is acting as a hurdle forth with the trend line. It can be acutely apparent from the archive that the amount is disturbing to bright the trend band resistance.
If at all the amount manages to breach the accent trend band resistance, again a analysis of the 50% Fib retracement akin of the bead from the 0.00206BTC aerial to 0.00182BTC low is possible. The declared fib akin additionally coincides with the 100 alternate simple affective average. Overall, it looks like affairs may be autonomous about the trend band attrition with a stop aloft 100 SMA.
Hourly MACD – The MACD is currently in the bearish zone, and may authority it for a while.
Hourly RSI – The RSI is additionally beneath the 50 level, which is a abrogating sign.
Major Support Level – 0.00182BTC
Major Resistance Level – 0.00192BTC
Charts address – SimpleFX
