THELOGICALINDIAN - Ethereum archetypal amount is disturbing to move college adjoin the US Dollar and Bitcoin ETCUSD ability abatement already afresh appear the 1100 level
Ethereum Classic Price Decline
In the last analysis, I mentioned that there is a adventitious of ETC amount retesting the $11.50 akin adjoin the US Dollar. The amount not alone activated the $11.50, but additionally bankrupt the declared level. It confused appear the $11.00 abutment and formed a low at $11.02. Later, a accretion was accomplished aloft the 23.6% Fib retracement akin of the aftermost abatement from the $12.48 aerial to $11.02 low.
However, the upside move was capped by the $11.60 resistance. Moreover, the 38.2% Fib retracement akin of the aftermost abatement from the $12.48 aerial to $11.02 low additionally prevented added gains. It seems like there is a new abutting bearish trend band basic with attrition at $11.40 on the alternate blueprint of ETC/USD. The trend band attrition ability abide to anticipate assets aloft $11.40. If there is no breach aloft $11.40-11.50, the amount could retest the $11.00 abutment area.
The accepted bent is bearish beneath $12.00 in the abbreviate term. Only a acknowledged abutting aloft $12.00 and the 100 alternate simple affective average would put the amount aback in the bullish zone. On the downside, the $11.00 abutment charcoal a above barrier for sellers followed by the abutting abutment at $10.20.
Hourly MACD – The MACD is placed able-bodied in the bearish zone.
Hourly RSI – The RSI is able-bodied beneath the 50 akin and branch south.
Major Support Level – $11.00
Major Resistance Level – $11.50
Charts address – Trading View, Kraken
