THELOGICALINDIAN - Ethereum archetypal amount adapted acutely lower today adjoin the US Dollar and Bitcoin However ETCUSD is able-bodied accurate aloft the 1180 level
Ethereum Classic Price Support
It was a good week so far for ETC amount as it confused aloft the $12.00 handle adjoin the US Dollar. The amount alike bankrupt the $13.00 akin afresh and acquired abundant upside momentum. A new account aerial was formed at $13.97 and the amount about activated the $14.00 handle. After trading as aerial as $13.97, the amount started a downside alteration and confused beneath $13.50.
There was a breach of the 50% Fib retracement akin of the aftermost beachcomber from the $11.35 low to $13.97 high. The amount traded abutting to the $12.00 akin and the 100 alternate simple affective average. There was a breach of the 61.8% Fib retracement akin of the aftermost beachcomber from the $11.35 low to $13.97 high. However, the amount acquired bids aloft $12.00 and the 100 alternate SMA. There is additionally a acute bullish trend band basic with abutment at $12.00 on the alternate blueprint of ETC/USD.
As continued as the amount is aloft the 100 alternate SMA and the trend band abutment or $11.80, it ability recover. On the upside, an antecedent attrition is about the $13.00 handle. Once buyers accomplish in breaking $13.00, the amount could alike analysis the $14.00 handle in the abreast term.
Hourly MACD – The MACD is currently in the bearish zone.
Hourly RSI – The RSI is convalescent from the oversold levels and is currently able-bodied beneath the 50 level.
Major Support Level – $11.80
Major Resistance Level – $13.00
Charts address – Trading View, Kraken
