THELOGICALINDIAN - Ethereum archetypal amount beneath acutely against the US Dollar and Bitcoin ETCUSD is now beneath 1500 and charcoal advertise on rallies
Ethereum Classic Price Resistance
This accomplished week, we saw a appropriate upside move in ETC amount aloft $16.00 adjoin the US Dollar. However, the amount failed to authority gains and started trading beneath $16.00. The downside move continued on a abutting beneath $15.40 and the 100 alternate simple affective average. The abatement was such that the amount bankrupt a above abutment breadth at $14.80, which afire added losses. The amount traded as low as $13.58 area it begin abutment and after started a correction.
At the moment, it is trading abreast the 23.6% Fib retracement akin of the aftermost abatement from the $16.42 aerial to $13.58 low. There is a acute abutting bearish trend band with attrition at $14.80 basic on the alternate blueprint of ETC/USD. The trend band attrition is additionally about the 100 alternate simple affective boilerplate and $15.00. Moreover, the 38.2% Fib retracement akin of the last decline from the $16.42 aerial to $13.58 low is at $14.69.
Overall, ETC amount is adverse a above hurdle on the upside abreast $14.80-15.00. If it corrects higher, it is acceptable to face sellers abreast $14.80. Selling rallies in the abreast appellation abutting to $15.00 can be advised in the abbreviate term.
Hourly MACD – The MACD is disturbing to charcoal in the bullish zone.
Hourly RSI – The RSI is affective college appear the 50 level, which agency the amount is abutting resistance.
Major Support Level – $13.60
Major Resistance Level – $14.80
Charts address – Trading View, Kraken
