THELOGICALINDIAN - Ethereum archetypal amount is assuming bigger than ETH adjoin the US Dollar and Bitcoin and ETCUSD is now attractive for added assets aloft 18
Ethereum Classic Price Support
There was a failed attempt by ETC amount to breach the $18.00 attrition adjoin the US Dollar. As a result, there was a accessory downside move appear the $17.00 handle. However, the amount charcoal abutment aloft $17.00 and the 100 simple affective average. And, it is currently able-bodied aloft the 38.2% Fib retracement akin of the aftermost bead from the $19.20 aerial to $15.80 low. It seems like the amount is accumulation aloft $16.50 and advancing for a breach in the abreast term.
Looking at the alternate blueprint of ETC/USD (data augment via Kraken), there is a aloft application triangle arrangement with attrition at $18.0 forming. The approach attrition additionally coincides with the 61.8% Fib retracement akin of the aftermost bead from the $19.20 aerial to $15.80 low. A breach and abutting aloft the $18.00 handle is bare for buyers to accretion drive for added gains. On the downside, an antecedent abutment is abreast the $17.00 akin and the 100 simple affective average.
However, the best important abutment is about the triangle at $16.50. If the amount dips appear $16.50, it charcoal supported. Only a abutting beneath $16.50 could booty ETC appear $15.00. On the upside, aloft $18.00, the abutting above hurdle is abreast $19.50.
Hourly MACD – The MACD is attempting to change the abruptness from bearish to bullish.
Hourly RSI – The RSI is currently beneath the 50 level.
Major Support Level – $16.50
Major Resistance Level – $18.00
Charts address – Trading View, Kraken
