THELOGICALINDIAN - Ethereum archetypal amount started a new bearish trend adjoin the US Dollar and Bitcoin ETCUSD ability abide to abatement and could alike breach 1000
Ethereum Classic Price Decline
It seems like a new declivity started from the $13.13 aerial in ETC amount adjoin the US Dollar. The amount beneath and bankrupt a few important supports like $13.00 and $12.00. In the aftermost analysis, I mentioned that there is a adventitious of ETC retesting the $11.00 level. It did analysis the declared $11.00 level. Sellers are in ascendancy at present and the amount already activated the $10.00 handle once.
There was a breach of the 50% Fib retracement akin of the aftermost beachcomber from the $8.75 low to $13.15 high. It has austere the aisle for added declines beneath $11.00 and the 100 alternate simple affective average. At the moment, the amount is beat from the 76.4% Fib retracement akin of the aftermost beachcomber from the $8.75 low to $13.15 high. However, there is a new application triangle arrangement basic with abutment at $10.00 on the alternate blueprint of ETC/USD.
The triangle resistance is currently abreast $11.00, which is acceptable to act as a able hurdle. Any above corrections appear $11.00-11.50 ability be apparent as affairs opportunity. On the downside, a breach of the $10.00 handle could advance the amount aback appear the aftermost low abreast $8.75.
Hourly MACD – The MACD is recovering, but there are no above bullish signs.
Hourly RSI – The RSI is acclimation from the oversold levels.
Major Support Level – $10.00
Major Resistance Level – $11.00
Charts address – Trading View, Kraken
