THELOGICALINDIAN - Ethereum archetypal amount is in a shortterm declivity adjoin the US Dollar and Bitcoin ETCUSD could extend declines appear the 2600 and 2500 abutment levels
Ethereum Classic Price Resistance
There was a decent recovery in ETC amount aloft the $35.00 akin adjoin the US dollar. The amount was able to move aloft the $36.00 akin and formed a aerial at $36.29. Later, a downside move was accomplished and the amount bankrupt $35.00 support. There was additionally a breach beneath a abutting bullish trend band at $33.00 on the alternate blueprint of ETC/USD. The brace beneath added and bankrupt the $30.00 abutment to abutting beneath the 100 alternate simple affective average.
It traded as low as $26.43 afresh and is currently correcting higher. It traded about the 23.6% Fib retracement akin of the aftermost abatement from the $36.26 aerial to $26.43 low. It seems like there an accretion triangle basic with a crumbling arrangement and attrition at $31.00 on the alternate blueprint of the ETC/USD pair. The brace may actual a few credibility added against $30.00-31.00. However, it is acceptable to face a able affairs absorption abreast $31.00 and the 100 alternate simple affective average.
Moreover, the 50% Fib retracement akin of the aftermost abatement from the $36.26 aerial to $26.43 low at $31.35 is a above resistance. On the downside, the brace could retest the aftermost beat low of $26.00 in the abbreviate term.
Hourly MACD – The MACD for ETC/USD is assuming a few bearish signs.
Hourly RSI – The RSI for ETC/USD is affective lower and is beneath the 50 level.
Major Support Level – $26.00
Major Resistance Level – $31.00
Charts address – Trading View, Kraken
