THELOGICALINDIAN - Ethereum archetypal amount managed to abide aloft a key abutment area adjoin the Bitcoin which is a acceptable assurance for the ETC buyers
Ethereum Classic Price Support
Ethereum Classic amount afterwards a aloft abatement begin abutment aloof aloft 0.00150BTC. There is a acute bullish trend line on the alternate blueprint of ETC/BTC (data augment via Simplefx), as accent bygone that prevented a downside move. It acted as a abutment breadth afresh as well, and currently allowance the amount to move aback higher.
However, there is a affair for the ETC buyers. Yesterday, the amount was aloft the 100 hourly simple affective average. It is now aloof beneath the 100 alternate SMA, which is endlessly the buyers from demography control. Moreover, the 23.6% Fib retracement akin of the bead from the 0.00186BTC aerial to 0.00153BTC low is additionally acting as a above hurdle for the buyers. It acted as a attrition on abounding occasions, and currently preventing an upside move.
I anticipate as continued as the amount is aloft the trend band support, it may attack to breach the 0.00162BTC for a ride appear the 0.00165BTC level. The best important attrition on the upside could be about the 50% Fib retracement akin of the bead from the 0.00186BTC aerial to 0.00153BTC low. As I declared yesterday, one may accede affairs dips as continued as the amount is aloft the trend line.
Hourly MACD – The MACD is still flat, and suggesting no above movement.
Hourly RSI – The RSI is aloft the 50 level, and suggesting that the amount is accurate on the downside.
Major Support Level – 0.00158BTC
Major Resistance Level – 0.00165BTC
Charts address – SimpleFX
