THELOGICALINDIAN - Ethereum archetypal amount acquired a lot afresh adjoin the US Dollar and Bitcoin ETCUSD is now aloft 2500 and looks set for added gains
Ethereum Classic Price Support
In the antecedent analysis, we discussed how ETC amount can trade aloft $20.00 adjoin the US Dollar. The amount acquired drive and was able to breach $20.00 and $24.00 attrition levels. The upside move was able and the amount alike bankrupt the $25.00 resistance. A new account aerial was formed at $27.99 from area a accessory alteration beachcomber was initiated. An antecedent abutment on the downside is about the 23.6% Fib retracement akin of the aftermost beachcomber from the $20.15 low to $27.99 high.
There is additionally a key bullish trend band basic with abutment at $26.00 on the alternate blueprint of the ETC/USD pair. The trend band abutment is acceptable to act as a aloft abutment aloft $25.00. Moreover, the 38.2% Fib retracement akin of the aftermost beachcomber from the $20.15 low to $27.99 aerial is at $24.97. Therefore, the $25.00 akin is addition major support breadth in the abreast term.
There are affairs that the brace ability actual a few credibility down, but it charcoal accurate aloft the $26.00-25.00 levels. On the upside, the $28.00 akin is an actual resistance. A breach aloft the aforementioned would alarm for a analysis of the abutting above attrition at $30.00.
Hourly MACD – The MACD for ETC/USD is currently placed able-bodied in the bullish zone.
Hourly RSI – The RSI for ETC/USD is acclimation lower from the overbought levels.
Major Support Level – $25.00
Major Resistance Level – $28.00
Charts address – Trading View, Kraken
