THELOGICALINDIAN - Ethereum archetypal amount is trading with a absolute bent against the US Dollar and Bitcoin and ETCUSD has to bright 16501700 for added upsides
Ethereum Classic Price Resistance
There were mostly positive assets in ETC amount aloft $15.00 adjoin the US Dollar. The amount was mostly accurate by the $15.00 and $14.00 abutment levels. As mentioned in the aftermost analysis, a accretion beachcomber from the $12.80 low acquired momentum. There was a move aloft the 38.2% Fib retracement akin of the aftermost abatement from the $19.65 aerial to $12.82 low. The amount was alike able to achieve aloft the $15.50 akin and the 100 alternate simple affective average.
However, there is a aloft hurdle abreast $16.50. The $16.50 akin represents a aloft axis breadth and charge be breached for added gains. It additionally coincides with the 50% Fib retracement akin of the aftermost abatement from the $19.65 aerial to $12.82 low. Moreover, there is an ascendance approach arrangement with attrition abreast $17.10 basic on the alternate blueprint of ETC/USD. So, we can say that the amount faces a acute analysis abreast $16.50-17.00. A breach aloft it could accessible the doors for a move appear $20.00.
On the downside, the $15.50 abutment and the 100 alternate simple affective boilerplate may abide to anticipate declines. The approach abutment at $14.80 is additionally a acceptable buy zone. As continued as the amount is aloft $14.80, it may breach higher.
Hourly MACD – The MACD is mostly collapsed in the bullish zone.
Hourly RSI – The RSI is able-bodied aloft the 50 level.
Major Support Level – $14.80
Major Resistance Level – $16.50
Charts address – Trading View, Kraken
