THELOGICALINDIAN - Ethereum archetypal amount is captivation the arena adjoin the US Dollar and Bitcoin ETCUSD is adverse a above barrier abreast 3500 which charge be breached for added gains
Ethereum Classic Price Resistance
After an upside move aloft $37.00, ETC amount faced sellers abreast $37.45 adjoin the US Dollar. As a result, there was a downside acknowledgment and the amount confused beneath the $35.00 support. The abatement was advancing and the amount fell beneath $32.00. However, the downside move was adequate by the $30.00 abutment zone. Later, a accretion was accomplished and the amount was able to barter aback aloft $32.00. It alike traded aloft the 50% Fib retracement akin of the aftermost abatement from the $37.45 aerial to $29.13 low.
However, the amount is currently adverse a aloft attrition abreast $34.50-35.00. On the upside, there is a key bearish trend band basic with attrition at $34.50 on the alternate blueprint of the ETC/USD pair. The aforementioned trend band at $34.50 is about the 100 alternate simple affective average. Therefore, a abutting aloft $34.50 and $35.00 won’t be accessible in the abbreviate term. The brace is additionally apparent disturbing abreast the 61.8% Fib retracement akin of the last decline from the $37.45 aerial to $29.13 low.
On the downside, the $31.00 and $30.00 levels are above supports and can be apparent as buy zones.
Hourly MACD – The MACD for ETC/USD is affective boring in the bullish zone.
Hourly RSI – The RSI for ETC/USD is affective lower and is currently beneath the 50 level.
Major Support Level – $30.00
Major Resistance Level – $35.00
Charts address – Trading View, Kraken
