THELOGICALINDIAN - Ethereum archetypal afterwards affective college begin sellers and confused bottomward Can it abide branch lower or will it animation aback against Bitcoin
Ethereum Classic Resistance
Ethereum archetypal amount ETC was on the acceleration yesterday. I was attractive for an upside move afore it starts trading lower. ETC followed the aforementioned aisle as I mentioned yesterday, and did analysis 0.0030BTC afore affective bottomward already again. Currently, Ethereum archetypal amount is afterward a bearish path, as it is beneath the 100 simple affective boilerplate (30-min).
Moreover, there is a bearish trend band formed on the 30-min archive of ETC/BTC, which is acting as a attrition forth with the 100 SMA. There may be a assiduity of the current trend, and the amount ability analysis the 61.8% Fib retracement akin of the aftermost leg from the 0.0006BTC to 0.0048BTC.
However, I am not assertive with the accepted amount activity in ETC to BTC, back there is a adverse arresting basic on the MACD. The alternate RSI is additionally about the oversold readings. So, the amount may dip from the accepted levels, but there lies a adventitious of addition move college afore the amount calls it a top. The 100 SMA may comedy a above role for the abutting move in ETCBTC in the abreast term.
Hourly MACD – The MACD is assuming convergence, and calling for an upside move.
Hourly RSI – The RSI is about the oversold readings, which agency the amount may actual later.
Major Support Level – 0.0022BTC
Major Resistance Level – 0.0028BTC
Charts from Poloniex; hosted by Trading View
