THELOGICALINDIAN - Ethereum archetypal amount is accepting drive adjoin the US Dollar and Bitcoin ETCUSD may conceivably breach the 1600 attrition to abide appear 1800
Ethereum Classic Price Trend
After a major decline beneath $15.00, ETC amount begin abutment aloft the $13.00 akin adjoin the US dollar. The ETC/USD brace traded as low as $13.19 afore starting an advancement correction. It acquired absorption and confused aloft the $14.50 resistance. Moreover, there was a breach aloft the 23.6% Fib retracement akin of the aftermost abatement from the $17.88 aerial to $13.19 low.
The upside move was able as the amount was able to move aloft the $15.00 attrition and the 100 alternate simple affective average. However, the upside move was capped by the $16.00 resistance. The 61.8% Fib retracement akin of the aftermost abatement from the $17.88 aerial to $13.19 low additionally acted as a hurdle. More importantly, there is a abutting bearish trend band formed with attrition at $15.90 on the alternate blueprint of the ETC/USD pair. The brace is currently consolidating beneath the $15.90 and $16.00 attrition levels. Should there be a breach aloft $16.00, the amount could advance assets aloft $17.00 in the abreast term.
The chart suggests that the amount could accomplish an attack to beat the $16.00 barrier. If it fails to move aloft $16.00, there may be a bearish acknowledgment appear $15.00. On the downside, the $15.00 and $14.50 levels are able supports.
Hourly MACD – The MACD for ETC/USD is mostly collapsed in the bullish zone.
Hourly RSI – The RSI for ETC/USD is currently placed able-bodied aloft the 50 level.
Major Support Level – $15.00
Major Resistance Level – $16.00
