THELOGICALINDIAN - Ethereum archetypal amount is affective college adjoin the US Dollar and Bitcoin ETCUSD is now aloft 1700 and eyeing a analysis of the 2024 resistance
Ethereum Classic Price Support
This accomplished week, we saw a solid acceleration in ETC amount aloft $21.00 adjoin the US Dollar. Later, the amount adapted lower and traded beneath the $15.00 level. A low was formed at $14.37 from area it started affective higher. Buyers succeeded in blame the amount aloft the 38.2% Fib retracement akin of the aftermost abatement from the $21.40 aerial to $14.37 low. The best allotment was a abutting aloft the $17.00 abutment and the 100 alternate simple affective average.
There is a appropriate uptrend basic with a above bullish trend band basic with abutment at $17.00 on the alternate blueprint of the ETC/USD pair. The brace afresh activated the 61.8% Fib retracement akin of the aftermost abatement from the $21.40 aerial to $14.37 low. It faced sellers and confused bottomward to analysis the $17.00 abutment and the 100 alternate SMA. The accent trend band is captivation losses beneath $17.00 and ability abide to act as a able support.
On the upside, there is a abutting trend band basic with attrition at $19.00. A abutting aloft the mentioned $19.00 would alarm for a analysis of the $20.00 handle. However, the best important attrition is abreast the aftermost beat aerial at $21.50.
Hourly MACD – The MACD for ETC/USD is currently in the bearish zone.
Hourly RSI – The RSI for ETC/USD is convalescent from the oversold levels, but still beneath the 50 level.
Major Support Level – $17.00
Major Resistance Level – $19.00
Charts address – Trading View, Kraken
