THELOGICALINDIAN - Ethereum archetypal amount is attempting a accretion adjoin the Bitcoin and it looks like ETC buyers may attack to booty the amount appear 000170BTC
Ethereum Classic Price Recovery
ETC Classic amount afterwards yesterday’s abatement managed to acquisition bids adjoin the Bitcoin at 0.00153BTC. There were a brace of attempts by the ETC sellers to booty the amount down, but they failed. I accent a accessory new bullish trend band on the alternate blueprint of ETC/BTC (data augment via Simplefx) yesterday. It was apparent acting as a able abutment for the pair, and helped the buyers in befitting a analysis of the decline.
The best important point is that the trend band abutment is accumbent with the 100 alternate simple affective average. It is the capital acumen why the trend band is acting as a able abutment and preventing a breach in ETC. The brace is currently recovering, but adverse attrition abreast the 23.6% Fib retracement akin of the bead from the 0.00186BTC aerial to 0.00153BTC low. A break and close aloft the declared fib akin may alarm for added upsides in the abbreviate term.
The abutting stop for the beasts can be at 0.00170BTC, which is additionally ancillary with the 50% Fib retracement akin of the bead from the 0.00186BTC aerial to 0.00153BTC low. One may accede affairs dips as continued as the amount is aloft the trend band support.
Hourly MACD – The MACD is about flat, and suggesting the amount is accumulation aloft a support.
Hourly RSI – The RSI is aloft the 50 level, which is a bullish sign.
Major Support Level – 0.00155BTC
Major Resistance Level – 0.00170BTC
Charts address – SimpleFX
