THELOGICALINDIAN - Ethereum archetypal amount managed to outdistance abrogating affect adjoin the US Dollar and Bitcoin ETCUSD is now aloft 1200 and attractive to extend gains
Ethereum Classic Price Support
Yesterday, we saw a decent upside move aloft $10.50 in ETC amount adjoin the US Dollar. The amount alike confused aloft the 100 alternate simple affective boilerplate and the $11.00 handle. There was a bright breach of the 38.2% Fib retracement akin of the aftermost bead from the $13.25 aerial to $9.82 low. It opened the doors for added assets and the amount alike confused aloft the $12.00 handle.
Buyers succeeded in blame the amount aloft the 50% Fib retracement akin of the aftermost bead from the $13.25 aerial to $9.82 low. A aerial was formed at $12.29 from area the amount adapted a few points. It activated the 50% Fib retracement akin of the aftermost beachcomber from the $10.80 low to $12.29 high. The $11.50 akin acted as a appropriate abutment and the amount is now aback accepting advancement momentum. It has to achieve aloft $12.00 already afresh to gain control and barter appear $12.40-12.50.
On the downside, there is a aloft bullish trend band basic with abutment at $11.20 on the alternate blueprint of ETC/USD. Buying dips abreast the trend band abutment or $10.80 can be advised in the abreast appellation as continued as the amount is aloft $10.50.
Hourly MACD – The MACD is affective aback in the bullish zone.
Hourly RSI – The RSI is able-bodied aloft the 50 level.
Major Support Level – $11.20
Major Resistance Level – $12.40
Charts address – Trading View, Kraken
