THELOGICALINDIAN - Ethereum archetypal amount is all bearish against the Bitcoin and it looks like the ETCBTC brace is ambience up for a new low in the abbreviate term
Ethereum Classic Price New Low
ETC amount not alike fabricated any attack to correct higher bygone against the Bitcoin, and confused down. There was a abutting beneath 0.00100BTC, as it acted as a attrition and pushed the amount down. The 100-hourly simple affective boilerplate acted as a absolute agitator for a downside move. The amount bankrupt the 61.8% Fib retracement akin of the aftermost beachcomber from the 0.00092BTC low to 0.00111BTC high, and currently looks set for extending losses.
At the moment, there is a application triangle arrangement formed on the alternate blueprint (data augment via Simplefx) of ETC/BTC. It is application and extensive a break point. If there is a breach beneath the triangle support, again the amount may calmly analysis the aftermost low of 0.00092BTC. There is alike a adventitious that the amount ability breach the declared akin and anatomy a new low.
On the upside, an antecedent attrition is about the triangle trend line. Above it, the 23.6% Fib retracement akin of the aftermost bead from the 0.00111BTC aerial to 0.00094BTC low may accommodate offers. Any accretion from the accepted levels could be tough, as the amount charcoal in a downtrend.
Hourly MACD – The MACD is currently in the bearish zone, and pointing added losses.
Hourly RSI – The RSI is about the oversold readings, but with no signs of a recovery.
Major Support Level – 0.00092BTC
Major Resistance Level – 0.00100BTC
Charts address – SimpleFX
