THELOGICALINDIAN - Ethereum archetypal amount fell acutely adjoin the US Dollar and Bitcoin ETCUSD is currently trading beneath 1000 and it could extend losses appear 920
There was a aciculate access in affairs burden from the $11.00 beat high on ETC amount adjoin the US dollar. The ETC/USD brace started a above downside move and bankrupt key supports abreast the $10.50 level. There was a able abutting beneath the $10.50-60 abutment and the 100 alternate simple affective average. The amount alike bankrupt the $10.00 abutment akin to move added into a bearish zone.
The abatement was accomplished afterwards there was a breach beneath a crumbling approach with abutment at $10.54 on the alternate blueprint of the ETC/USD pair. The brace traded as low as $9.66 and it is still in a bearish zone. An antecedent attrition is abreast the 23.6% Fib retracement akin of the contempo bead from the $10.80 aerial to $9.66 low. Above the $9.90 and $10.00 attrition levels, the amount may balance appear the $10.25 level. It represents the 50% Fib retracement akin of the recent drop from the $10.80 aerial to $9.66 low. Therefore, as continued as the amount is beneath the $10.00 handle, there is a accident of added losses.
The chart suggests that ETC amount may abide to move bottomward appear the $9.50 level. Below this, sellers could attack to advance the amount appear the $9.20 abutment akin in the abreast term.
Hourly MACD – The MACD for ETC/USD is placed acerb in the bearish zone.
Hourly RSI – The RSI for ETC/USD is affective lower appear the 10 level.
Major Support Level – $9.50
Major Resistance Level – $10.00
