THELOGICALINDIAN - Ethereum archetypal amount is accepting drive adjoin the US Dollar and Bitcoin ETCUSD has to move aloft 1750 to advance assets in the abreast term
Ethereum Classic Price Uptrend
We saw a decent correction in ETC amount afterwards an upside ride adjoin $21.50 adjoin the US Dollar. The amount adapted appear the $15.00 abutment afore award buyers and starting a new uptrend. There was a appropriate acceleration from the $15.00 and the amount is now placed aloft the $16.00 level. It has confused aloft the 23.6% Fib retracement akin of the aftermost abatement from the $19.20 aerial to $15.52 low.
Moreover, there was a breach aloft a aloft bearish trend band with attrition at $16.50 on the alternate blueprint of the ETC/USD pair. The brace is currently trading aloft the $16.50 akin and the 100 alternate simple affective average. However, the 38.2% Fib retracement akin of the aftermost abatement from the $19.20 aerial to $15.52 low is currently acting as a resistance. It has to accretion clip aloft $17.50 and the 50% Fib retracement akin of the last decline from the $19.20 aerial to $15.52 low to barter against $19.00 or alike $20.00.
On the downside, the burst attrition abreast $16.50 is a abutment area forth with the 100 alternate SMA. As continued as the amount is aloft the same, it could accretion clip and move aloft $17.50.
Hourly MACD – The MACD for ETC/USD is hardly in the bullish zone.
Hourly RSI – The RSI for ETC/USD is placed able-bodied aloft the 50 level.
Major Support Level – $16.50
Major Resistance Level – $17.50
Charts address – Trading View, Kraken
