THELOGICALINDIAN - Ethereum archetypal amount recovered acutely afterwards a dip adjoin the US Dollar and Bitcoin and ETCUSD is now affective college appear the 19 resistance
Ethereum Classic Price Back aloft Support
Yesterday, ETC amount bootless to authority the $17.50 support adjoin the US Dollar. The amount traded acutely lower and bankrupt a few abutment levels like $17 and $16. A new account low was formed beneath the $15 handle at $14.87 from area the amount started recovering. The amount bounced aback acutely and confused aloft the 23.6% Fib retracement akin of the abatement from the $21.10 aerial to $14.87 low.
During the upside move, the amount bankrupt a bearish trend band formed with attrition at $17.30 on the alternate chart. It opened the doors for added assets and the amount was able to move aback aloft the $17.50-60 support. The amount is currently attempting a abutting aloft the 50% Fib retracement akin of the abatement from the $21.10 aerial to $14.87 low. Once it succeeds, there is a adventitious of ETC/USD testing the 100 alternate simple affective average at $19.00.
The $19 attrition additionally coincides with the 61.8% Fib retracement akin of the abatement from the $21.10 aerial to $14.87 low. So, there is a adventitious of a accessory pullback for the 100 SMA appear $17.50. Buying dips appear the $17.50-00 levels abide a acceptable abstraction in the abreast term.
Hourly MACD – The MACD is aback in the bullish zone.
Hourly RSI – The RSI is now able-bodied aloft the 50 level.
Major Support Level – $17.50
Major Resistance Level – $19.00
Charts address – Trading View, Kraken
