THELOGICALINDIAN - Ethereum archetypal amount is acclimation lower adjoin the US Dollar and Bitcoin ETCUSD ability retest 1800 afore affective aback higher
Ethereum Classic Price Correction
This week, ETC amount started a decent recovery and confused aloft the $17.50 akin adjoin the US Dollar. The amount followed a appropriate upside drive and traded as aerial as $19.69. It seems like the amount struggled to breach the 38.2% Fib retracement akin of the aftermost bead from the $24.05 aerial to $16.21 low. As a result, there is a new tiny alteration beachcomber initiated. The amount has boring confused bottomward beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $16.21 low to $19.69 high.
The amount is now abutting the $18.00 support, which is aloof beneath the 100 alternate simple affective average. Moreover, the 50% Fib retracement akin of the aftermost beachcomber from the $16.21 low to $19.69 aerial is at $17.99. Therefore, if the amount abide to move down, it could find support abreast $18.00. On the upside, there is a new abutting bearish trend band basic with attrition at $18.60 on the alternate blueprint of ETC/USD.
A breach aloft the trend band attrition at $18.60 would accessible the doors for a retest of $20.00. The all-embracing bent is still absolute as continued as the amount is aloft $18.00-17.50. Buying dips abreast $18.00 can be considered, but with a actual low accident and bound stop.
Hourly MACD – The MACD has hardly confused in the bearish zone.
Hourly RSI – The RSI has confused beneath the 50 level.
Major Support Level – $18.00
Major Resistance Level – $18.60
Charts address – Trading View, Kraken
