THELOGICALINDIAN - Ethereum archetypal amount is boring affective in a absolute area adjoin the US Dollar and Bitcoin ETCUSD could advance assets aloft 1600 if buyers accretion control
Ethereum Classic Price Resistance
There was a decent upside move in ETC amount aloft the $14.25 and $15.00 attrition levels adjoin the US dollar. The ETC/USD brace traded abutting to the $16.00 resistance, which prevented added gains. There were a brace of attempts by buyers to breach $16.00, but they failed. As a result, the amount beneath and confused beneath $15.00. There was a breach beneath the 38.2% Fib retracement akin of the aftermost beachcomber from the $13.21 low to $16.03 high.
The amount additionally austere the 100 alternate simple affective average, but it begin abutment abreast $14.25. Moreover, the 61.8% Fib retracement akin of the aftermost beachcomber from the $13.21 low to $16.03 aerial additionally provided support. ETC amount bounced aback and is currently trading aloft $15.00 and the 100 alternate SMA. On the upside, there is a above bearish trend band formed with attrition at $15.60 on the alternate blueprint of the ETC/USD pair. Aloft the trend line, the best important hurdle for buyers is abreast the $16.00 level.
The chart suggests that the amount is boring affective into a absolute area aloft $15.00. However, it charge bright the $15.60 and $16.00 resistances to accretion traction. On the downside, supports are apparent abreast $14.60 and $14.25 levels.
Hourly MACD – The MACD for ETC/USD is currently collapsed in the bullish zone.
Hourly RSI – The RSI for ETC/USD is captivation the 50 akin with absolute signs.
Major Support Level – $14.25
Major Resistance Level – $16.00
