THELOGICALINDIAN - Ethereum archetypal amount is accumulation adjoin the US Dollar and Bitcoin ETCUSD has to break aloft the 1000 abutment for an upside move in the abreast term
Ethereum Classic Price Upside Hurdle
There was a slight upside move in ETC amount appear $10.80-11.00 adjoin the US Dollar. However, the upside move was adequate by sellers abreast $10.80. It seems like buyers are disturbing to accretion absorption aloft the $11.00 handle. Recently, a aerial was formed at $10.73 from area the amount started a correction. It confused bottomward and traded beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $9.54 low to $10.73 high.
There was alike a abutting beneath the 100 alternate simple affective boilerplate at $10.50. On the upside, this week’s accent aloft bearish trend band with accepted attrition at $10.65 is alive on the alternate blueprint of the ETC/USD pair. The brace needs to breach the trend band attrition and accumulate clip aloft $11.00 to move aback in the bullish zone. Aloft $11.00, the amount could arch appear the abutting attrition abreast $12.00.
On the downside, an actual abutment is about the 50% Fib retracement akin of the aftermost beachcomber from the $9.54 low to $10.73 aerial at $10.15. Below $10.15, the $10.00 handle would act as a able abutment and buy area in the abreast term.
Hourly MACD – The MACD is currently affective in the bearish zone.
Hourly RSI – The RSI is beneath the 50 akin and assuming branch south.
Major Support Level – $10.00
Major Resistance Level – $10.65
Charts address – Trading View, Kraken
