THELOGICALINDIAN - Ethereum archetypal amount managed to balance able-bodied against the US Dollar and Bitcoin and ETCUSD is now placed able-bodied aloft the 1400 handle
Ethereum Classic Price Resistance
It was a advertise ride for ETC amount afresh as it followed ETH and BTC and confused beneath $15.00 adjoin the US Dollar. The amount beneath heavily afore award abutment at $12.75. Buyers were able to avert the mentioned level, and the amount recovered well. The upside move was decent, as the amount was aloft the abutting aloft $13.00. During the upside move, there was a breach aloft a above bearish trend band with attrition at $14.00 on the alternate blueprint of ETC/USD.
It has opened the doors for added assets aloft $14 in the abreast term. The amount has breached the 23.6% Fib retracement akin of the aftermost abatement from the $19.75 aerial to $12.74 low. However, there is a monster attrition cat-and-mouse on the upside at $16.50. It was a support earlier, and now it could anticipate assets aloft $16.50. Moreover, the 100 alternate simple affective boilerplate is at $16.10. Furthermore, the 50% Fib retracement akin of the aftermost abatement from the $19.75 aerial to $12.74 low is abreast $16.50.
So, there is a major barrier basic abreast $16.00-16.50 for ETC. An average attrition is about the 38.2% Fib retracement akin of the aftermost abatement from the $19.75 aerial to $12.74 low at $15.44.
Hourly MACD – The MACD is now aback in the bullish zone.
Hourly RSI – The RSI is currently able-bodied aloft the 50 level.
Major Support Level – $14.00
Major Resistance Level – $16.50
Charts address – Trading View, Kraken
