THELOGICALINDIAN - Ethereum archetypal amount is currently acclimation lower adjoin the US Dollar and Bitcoin ETCUSD needs to break aloft 1040 to abstain added declines
Ethereum Classic Price Resistance
Recently, we saw an upside break aloft $10.50 in ETC amount adjoin the US Dollar. The amount confused college and traded appear the $11.00 akin area it faced sellers. A aerial was formed at $10.99 from area the amount started acclimation lower. It has already confused beneath the 23.6% Fib retracement akin of the aftermost leg up from the $9.50 low to $10.99 high. The downside move was such that the amount additionally confused beneath $10.50 and the 100 alternate simple affective average.
However, the downside move was adequate by a acute bullish trend band with abutment at $10.40 on the alternate blueprint of the ETC/USD pair. Moreover, the 50% Fib retracement akin of the aftermost leg up from the $9.50 low to $10.99 aerial additionally prevented declines. At present, the brace is trading abreast the trend band abutment at $10.40 and disturbing to authority the same. A abutting beneath the trend band abutment at $10.40 would be a bearish assurance and it could alike spark added declines in the abreast term.
The abutting abutment sits at $10.10, which is a axis level. On the upside, there is a abutting bearish trend band basic with attrition at $10.70. Above $10.70, the abutting important attrition is at $11.00.
Hourly MACD – The MACD ability move aback in the bullish zone.
Hourly RSI – The RSI is currently able-bodied beneath the 50 level.
Major Support Level – $10.40
Major Resistance Level – $10.70
Charts address – Trading View, Kraken
