THELOGICALINDIAN - Ethereum archetypal amount is boring affective bottomward adjoin the US Dollar and fell acutely against Bitcoin ETCUSD ability extend declines beneath 1150
Ethereum Classic Price Resistance
There was no upside move in ETC amount aloft the $12.00 adjoin the US Dollar. The amount started a downside move afterwards acclimation appear the $12.00 level. Before the mentioned failure, there was a breach aloft the 50% Fib retracement akin of the aftermost leg bottomward from the $12.50 aerial to $11.02 low. However, the amount bootless to bright the $12.00 handle and a bearish trend line.
Moreover, the 61.8% Fib retracement akin of the aftermost leg bottomward from the $12.50 aerial to $11.02 low acted as a hurdle. As a result, there was a downside reaction, and the ETC/USD brace might anon break a application triangle abutment at $11.50 on the alternate chart. The brace is currently able-bodied beneath the $11.80 attrition and the 100 alternate simple affective average. Therefore, there is a adventitious of ETC testing the $11.10 or $11.00 akin in the abreast term.
On the upside, the trend band attrition abreast $11.70 ability abide to stop the upside move. A able abutting aloft the $12.00 handle and the 100 alternate SMA is bare for buyers to accretion momentum. Otherwise, there can be added declines and the amount could alike breach the $11.00 handle for a move appear $10.50.
Hourly MACD – The MACD is accepting clip in the bearish zone.
Hourly RSI – The RSI is currently able-bodied beneath the 50 akin and accepting downside momentum.
Major Support Level – $11.00
Major Resistance Level – $11.80
Charts address – Trading View, Kraken
