THELOGICALINDIAN - Ethereum archetypal amount started a downside alteration adjoin the US Dollar and Bitcoin ETCUSD is abutting a few important supports aloft the 920 level
In the aftermost analysis, we discussed that ETC amount may balance further aloft the $9.50 and $9.60 resistances adjoin the US dollar. The ETC/USD brace did move college and traded aloft the $9.60 attrition additional the 100 alternate simple affective average. The amount traded abutting to the key $10.00 attrition and formed a aerial at $9.95. Later, there was a downside alteration and the amount beneath beneath the $9.75 support.
There was a breach beneath the 50% Fib retracement akin of the aftermost beachcomber from the $9.23 low to $9.95 high. However, the amount is now abutting a above abutment breadth abreast $9.40. More importantly, there is a above bullish trend band in abode with abutment at $9.40 on the alternate blueprint of the ETC/USD pair. The trend band abutment is abutting to the 76.4% Fib retracement akin of the aftermost beachcomber from the $9.23 low to $9.95 high. Besides, the 100 alternate SMA is additionally abreast $9.45 to accommodate support. Beneath the trend line, the amount could analysis the $9.20 level, which was a attrition beforehand and now it may accommodate support.
The chart suggests that ETC amount is abutting a few important abutment levels such as $9.40 and $9.20. As continued as the amount is aloft $9.20, it could animation aback aloft $9.75.
Hourly MACD – The MACD for ETC/USD is boring affective in the bearish zone.
Hourly RSI – The RSI for ETC/USD is affective lower appear the 30 level.
Major Support Level – $9.20
Major Resistance Level – $9.75
