THELOGICALINDIAN - Ethereum archetypal amount is in the bullish area against the US Dollar and Bitcoin and ETCUSD is able-bodied accurate aloft the 1550 level
Ethereum Classic Price Upside Move
The amount action is positive for ETC adjoin the US Dollar aloft the $15.00 and $15.50 abutment levels. The amount remained accurate and attempted a abutting aloft $16.50 and $17.00 on a brace of occasions, but failed. In the aftermost analysis, I accent a above attrition area abreast $16.50. It coincides with the 50% Fib retracement akin of the aftermost abatement from the $19.75 aerial to $12.80 low. The amount bankrupt the declared level, but bootless abreast the 61.8% Fib retracement akin of the aftermost abatement from the $19.75 aerial to $12.80 low.
The best allotment is the actuality that the aftermost week’s accent ascendance approach arrangement with attrition abreast $18.00 on the alternate blueprint of ETC/USD is still intact. It is captivation the uptrend aloft the $15.00 handle and boring demography the amount higher. The brace is currently aloft the $16.00 akin and the 100 alternate simple affective average. The channel support is abreast the 38.2% Fib retracement akin of the aftermost beachcomber from the $12.80 low to $17.63 high.
Once there is a able circadian abutting aloft $17.00, there can be a run appear $20.00. Until then, the amount may abide to chase the approach aloft $15.540 and barter college slowly.
Hourly MACD – The MACD is mostly placed in the bullish zone.
Hourly RSI – The RSI is currently aloof beneath the 50 level.
Major Support Level – $15.50
Major Resistance Level – $17.00
Charts address – Trading View, Kraken
