THELOGICALINDIAN - Ethereum archetypal amount is acclimation lower adjoin the US Dollar and Bitcoin and ETCUSD is currently testing an important abutment aloft 2024
Ethereum Classic Price Support
This accomplished week, there was a sharp rise in ETC amount appear $24.00 adjoin the US Dollar. The amount bankrupt the $20.00 and $22.00 attrition levels to barter abutting to the $24.00 level. It traded as aerial as $24.01 afore adverse sellers and starting a downside correction. The amount adapted lower and confused beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $15.08 low to $24.01 high.
However, the downside alteration was able and the amount beneath beneath $21.00. There was alike a breach beneath the 50% Fib retracement akin of the aftermost beachcomber from the $15.08 low to $24.01 high. On the downside, there is a above bullish trend band basic with abutment at $19.00 on the alternate blueprint of ETC/USD. The trend band support abreast $19.00 holds a lot of accent back the 100 alternate simple affective boilerplate is additionally abreast it.
Moreover, the 61.8% Fib retracement akin of the aftermost beachcomber from the $15.08 low to $24.01 aerial is abreast $18.48. Therefore, we can say that there are abounding important supports on the downside abreast $19.00-18.50. As continued as the amount is aloft the trend band abutment at $19.00, it ability resume its uptrend.
Hourly MACD – The MACD is hardly placed in the bullish zone.
Hourly RSI – The RSI is currently beneath the 50 akin and branch lower.
Major Support Level – $19.00
Major Resistance Level – $21.00
Charts address – Trading View, Kraken
