THELOGICALINDIAN - Ethereum archetypal amount is aback in the bearish area adjoin the US Dollar and Bitcoin ETCUSD now faces resistances abreast 1580 and 1600 on the upside
Ethereum Classic Price Upside Hurdles
In the aftermost analysis, I acicular out a above hurdle for ETC amount abreast $16.50 adjoin the US Dollar. The amount attempted a accessory alteration appear $16.50, but bootless to accretion momentum. It traded abutting to the $16.50 level, faced abundant offers and started a downside move. The upside move was additionally adequate by $16.40 and the 100 alternate simple affective average.
It seems like the amount is aback in the bearish breadth back it bankrupt the $15.00 abutment area. The downside move was such that the amount alike austere the aftermost beat low of $14.75. It has opened the doors for added losses with a new low as $14.24. If there is a correction from the accepted levels, an antecedent attrition is about the 23.6% Fib retracement akin of the aftermost bead from the $16.50 aerial to $14.24 low.
Moreover, the aftermost assay accent bearish trend band with accepted attrition at $15.80 on the alternate blueprint of ETC/USD is additionally active. The trend band at $15.80 and the 100 alternate simple affective boilerplate are aloft upside barriers for buyers. Selling rallies in the abbreviate appellation appear $15.50 or $15.80 can be advised with a stop aloft $16.00.
Hourly MACD – The MACD is placed able-bodied in the bearish zone.
Hourly RSI – The RSI has accomplished the oversold levels.
Major Support Level – $14.00
Major Resistance Level – $15.80
Charts address – Trading View, Kraken
