THELOGICALINDIAN - Ethereum archetypal amount managed to ascend college against Bitcoin and it looks like the ETCBTC brace charcoal accurate on the downside
Ethereum Classic Price Trend Line
Ethereum archetypal price afresh traded as aerial as 0.00248BTC adjoin Bitcoin afterwards the contempo attrition break. The amount is currently acclimation lower and already traded beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the 0.00214BTC low to 0.00248BTC high. However, the amount begin abutment on the downside about a above assemblage area.
The accent assemblage breadth comprised of a brace of important things. First, there was a above bullish trend band formed on the alternate blueprint of ETC/BTC (data augment via Simplefx). Second, the 100 alternate simple affective boilerplate was positioned abreast it. Lastly, the 50% Fib retracement akin of the aftermost beachcomber from the 0.00214BTC low to 0.00248BTC aerial additionally provided support. So, we can say that there is a acute abutment on the downside, which may abide to act as a barrier for sellers.
As continued as the amount is aloft it, there is a adventitious of an upside move. The amount could analysis the contempo aerial of 0.00248BTC and may alike breach the declared akin for a new account high. Only a breach and abutting beneath the 100 alternate SMA may abate the accepted bullish view.
Hourly MACD – The MACD is currently in the bullish zone, but boring accident grip.
Hourly RSI – The RSI is aloof aloft the 50 level, which is a absolute assurance for the ETC buyers.
Major Support Level – 0.00220BTC
Major Resistance Level – 0.00248BTC
Charts address – SimpleFX
