THELOGICALINDIAN - Ethereum archetypal amount climbed aback in the bullish area adjoin the US Dollar and Bitcoin ETCUSD activated 1750 and charcoal accurate on the downside
Ethereum Classic Price Support
For a few canicule we saw ranging moves aloft $15.00 in ETC amount adjoin the US Dollar. The amount assuredly fabricated a nice upside move and austere a above attrition abreast the $16.60 level. The upside move was such that the amount alike bankrupt the $17.00 handle and traded as aerial as $17.46. At the moment, the amount is acclimation lower and testing the 23.6% Fib retracement akin of the aftermost beachcomber from the $15.05 low to $17.46 high.
On the downside, there is a above abutting bullish trend band basic with abutment at $16.60 on the alternate blueprint of ETC/USD. The aforementioned trend band is positioned abreast the previous resistance at $16.60, which is acceptable to serve as a abutment in the abbreviate term. Moreover, the 38.2% Fib retracement akin of the aftermost beachcomber from the $15.05 low to $17.46 aerial is at $16.52.
Therefore, we can say that ETC amount charcoal accurate on the downside abreast $16.60-16.50. As continued as the amount stays aloft $16.50, it is acceptable to resume its uptrend. On the upside, a breach aloft $17.50 would advance ETC appear the $18.00 handle. However, the best important hurdle charcoal at $20.00.
Hourly MACD – The MACD is aback in the bullish area and assuming absolute signs.
Hourly RSI – The RSI is beat from the overbought levels.
Major Support Level – $16.60
Major Resistance Level – $17.50
Charts address – Trading View, Kraken
