THELOGICALINDIAN - Ethereum archetypal amount is afterward a bearish aisle against the US Dollar and Bitcoin ETCUSD may anon analysis the allimportant 15001480 abutment zone
Ethereum Classic Price Support
Recently, ETC amount managed to move aloft the $16.00 handle adjoin the US Dollar. The amount traded aloft the 100 alternate simple affective boilerplate and traded appear the $16.50 level. However, it bootless to absorb the bullish momentum, faced sellers and confused bottomward beneath $16.00. The amount activated the $15.00-14.80 abutment area already and bounced back. However, it bootless to break aloft the 16.00 akin and the 100 alternate simple affective average.
A new abutting bearish trend band with attrition at $15.60 on the alternate blueprint of ETC/USD adequate gains. The brace is now beneath the 50% Fib retracement akin of the aftermost beachcomber from the $14.82 low to $15.97 high. There is a adventitious that the amount ability abide to move bottomward appear the $15.00-14.80 support zone. On the upside, an antecedent attrition is about the $15.40 akin and the 100 alternate simple affective average.
On the downside, the $15.00-14.80 abutment area holds a lot of importance. Either one may accede affairs abreast $15.60 or buy in the abbreviate appellation abreast $14.80 with a bound stop. It seems like the amount may consolidate aloft $14.80 afore authoritative the abutting move.
Hourly MACD – The MACD is affective to and fro in the bearish zone.
Hourly RSI – The RSI is currently able-bodied beneath the 50 akin and looks set to extend declines.
Major Support Level – $14.80
Major Resistance Level – $15.60
Charts address – Trading View, Kraken
