THELOGICALINDIAN - Ethereum archetypal amount is adverse sellers on the upside against Bitcoin and it looks like ETC may abatement added in the abreast term
Ethereum Classic Price Resistance
Ethereum archetypal amount bygone fabricated one added attack to balance adjoin Bitcoin, but it failed. My yesterday’s accent bearish trend band formed on the alternate blueprint of ETC/BTC (data augment via Simplefx) remained in action. It acted as a absolute attrition area, and represented as a barrier for the bulls. The amount bootless to breach the trend band attrition currently trading in a tiny range.
We charge to agenda addition important point. The ETC/BTC brace additionally bootless to breach the aftermost low of 0.00208BTC. So, there is a slight adventitious of a accretion as able-bodied in the abreast term. On the upside, the trend band holds the key. Moreover, the 23.6% Fib retracement akin of the last drop from the 0.00236BTC aerial to 0.00208BTC is additionally about the aforementioned trend band resistance.
So, we can say that the amount is trading beneath a aloft attrition area, and aloft a acute support. In my view, there is a adventitious of a fasten arise the 0.0020BTC area the beasts may appear. If there is a abutting aloft the trend band resistance, again a analysis of the 50% Fib retracement akin of the aftermost bead from the 0.00236BTC aerial to 0.00208BTC is possible.
Hourly MACD – The MACD is currently in the bearish zone, but may move into the bull’s area.
Hourly RSI – The RSI is still disturbing to breach the 50 level.
Major Support Level – 0.00208BTC
Major Resistance Level – 0.00215BTC
Charts address – SimpleFX
