THELOGICALINDIAN - Ethereum archetypal amount managed to acquisition bids adjoin the US Dollar and Bitcoin and ETCUSD is now eyeing a breach aloft 1750 for added gains
Ethereum Classic Price Resistance
There were a few beat moves in ETC amount appear $16.00 adjoin the US Dollar. Later, the amount formed a abject at $15.80 and started an upside move. It managed to clamber aloft the 23.6% Fib retracement akin of the aftermost bead from the $19.10 aerial to $15.85 low. It looks like the amount is advancing for the abutting move aloft $18.00 in the abreast term.
At present, the amount is disturbing to breach the 50% Fib retracement akin of the aftermost bead from the $19.10 aerial to $15.85 low at $17.50. The mentioned akin additionally coincides with the 100 alternate simple affective average. Furthermore, there is a acute application triangle arrangement with attrition at $17.50 basic on the alternate blueprint of ETC/USD. Once there is a breach and abutting aloft the $17.50 attrition and the 100 alternate simple affective average, there can be more gains.
The abutting attrition on the upside is abreast the 76.4% Fib retracement akin of the aftermost bead from the $19.10 aerial to $15.85 low at $18.40. On the downside, the triangle abutment at $16.10-16.20 can be advised as a buy zone. Buying dips can be advised as continued as the amount is aloft $15.80.
Hourly MACD – The MACD is mostly collapsed and suggesting a alliance phase.
Hourly RSI – The RSI is branch lower, but able-bodied aloft the 50 level.
Major Support Level – $16.20
Major Resistance Level – $17.50
Charts address – Trading View, Kraken
