THELOGICALINDIAN - Ethereum archetypal amount traded as aerial as 00063BTC afore award offers It is affective bottomward but can it animation aback in the abbreviate term
Ethereum Classic Price Support
Ethereum archetypal amount ETC beneath afterwards trading as aerial as 0.0063BTC adjoin Bitcoin. I accent a topping arrangement yesterday, and appropriate not to break in ETC for long. There may be rallies in ETC in the abbreviate term, but I anticipate these are alone based on affect and not reality. The amount already biconcave already from 0.0063BTC to 0.0041BTC.
On the downside, there is a bullish trend band formed on the alternate blueprint of ETC/BTC (data augment via Simplefx), which is accouterment bids and preventing the downside move. The amount already bounced already from the aforementioned trend line, and there is addition achievability of a downside move. However, as continued as the amount stays aloft the trend band support, there is a adventitious of a move higher.
The best important attrition on the upside is abreast the 50% Fib retracement akin of the aftermost bead from the 0.0063BTC aerial to 0.0041BTC low. No doubt, the amount may move college already again, but I would not advance anyone affairs at this time. There is too abundant accident too anon in ETC, which leaves me on the sidelines at the moment.
Hourly MACD – The MACD has confused into the bearish slope, which is a abrogating sign.
Hourly RSI – The RSI is additionally beneath the 50 level, which is addition abrogating assurance for the bulls.
Major Support Level – 0.0042BTC
Major Resistance Level – 0.0052BTC
Charts address – SimpleFX
