THELOGICALINDIAN - Ethereum archetypal amount confused bottomward beneath 000260BTC and currently accretion However it charcoal beneath an important attrition of 00030BTC
Ethereum Classic Price Resistance
Ethereum archetypal amount moved bottomward further against Bitcoin and bankrupt yesterday’s low. A new low beneath 0.00260BTC was formed, and it looks like the amount is beneath a bearish pressure. As mentioned, this week’s accent abutting bearish trend band on the alternate blueprint of ETC/BTC (data augment via Simplefx) played a above role. It adjourned the upside move in ETC and pushed it down.
The amount traded as low as 0.00258BTC area the beasts appeared and currently attempting a recovery. The brace is currently trading abreast the 23.6% Fib retracement akin of the aftermost bead from the 0.00308BTC aerial to 0.00258BTC low, which is acting as a resistance. However, the best important hurdle on the upside charcoal the bearish trend line. Moreover, the 100 alternate simple affective boilerplate is additionally on the upside accumbent with the trend line.
So, there is a acute barrier for the buyers on the upside about the 0.00280BTC. Only a breach aloft it could booty the amount appear the 50% Fib retracement akin of the aftermost bead from the 0.00308BTC aerial to 0.00258BTC low. In my view, there can be more losses in ETC as continued as the amount is beneath 0.00280-300BTC.
Hourly MACD – The MACD is currently attempting to move from the bearish to bullish zone.
Hourly RSI – The RSI is beneath the 50 level, which is a abrogating sign.
Major Support Level – 0.00258BTC
Major Resistance Level – 0.00280BTC
Charts address – SimpleFX
