THELOGICALINDIAN - Ethereum archetypal amount is acclimation lower adjoin the US Dollar and Bitcoin ETCUSD ability extend declines as sellers eye a analysis of the 1100 level
Ethereum Classic Price Resistance
There was a decent recovery from the $8.70 low in ETC amount adjoin the US Dollar. The amount traded aloft the $12.00 ad $13.00 attrition levels. However, sellers appeared abreast $13.15 and adequate added gains. There was no able abutting aloft $13.00 and the amount started acclimation lower. There was a breach of the 23.6% Fib retracement akin of the aftermost beachcomber from the $8.70 low to $13.13 high.
At the moment, the amount is attempting a abutting beneath $13.50 and the 100 alternate simple affective average. Moreover, the 38.2% Fib retracement akin of the aftermost beachcomber from the $8.70 low to $13.13 aerial is additionally at risk. It seems like there is a crumbling application triangle arrangement with attrition at $11.50 basic on the alternate blueprint of ETC/USD. If the brace charcoal beneath the $12.00 handle the 100 alternate SMA, it could analysis the approach support abreast $11.00.
The approach abutment additionally coincides with the 50% Fib retracement akin of the aftermost beachcomber from the $8.70 low to $13.13 high. A abutting beneath $11.00 would be a bearish assurance and could advance the amount appear $10.00. On the upside, a abutting aloft $12.50 is appropriate for abiding gains.
Hourly MACD – The MACD is about collapsed with no above direction.
Hourly RSI – The RSI is able-bodied beneath 50 level.
Major Support Level – $11.00
Major Resistance Level – $12.50
Charts address – Trading View, Kraken
