THELOGICALINDIAN - Ethereum archetypal amount is boring accepting clip adjoin the US Dollar and Bitcoin ETCUSD needs to breach 1800 to admit a new leg higher
Ethereum Classic Price Resistance
After a major decline appear $14.50, ETC amount begin abutment adjoin the US Dollar. The amount started an upside move and was able to move aloft the $16.00 attrition and the 100 alternate simple affective average. It traded abutting to the $20.00 handle and formed a aerial at 19.25. It is currently acclimation lower and confused beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $14.50 low to $19.25 high.
However, the downside move was adequate by the $16.50 abutment and the 100 alternate SMA. Moreover, the 61.8% Fib retracement akin of the aftermost beachcomber from the $14.50 low to $19.25 aerial additionally prevented declines. It seems like the amount is accumulation aloft $16.00 and the 100 alternate SMA. There is a aloft application triangle arrangement basic with attrition at $18.00 on the alternate blueprint of the ETC/USD pair. The brace needs to achieve aloft the $18.00 attrition to gain further drive in the abreast term.
On the upside, the abutting attrition could be abreast $19.50-20.00. On the downside, an antecedent abutment is at $17.00. However, the best important abutment is abreast $16.00 and the 100 alternate SMA. The brace has to abide aloft $16.00 if it has to move aloft $18.00.
Hourly MACD – The MACD for ETC/USD is about collapsed in the bullish zone.
Hourly RSI – The RSI for ETC/USD is currently able-bodied aloft the 50 level.
Major Support Level – $16.00
Major Resistance Level – $18.00
Charts address – Trading View, Kraken
