THELOGICALINDIAN - Ethereum archetypal amount is boring affective lower adjoin the US Dollar and Bitcoin ETCUSD could abatement added as continued as it is beneath the 18001820 resistance
Ethereum Classic Price Resistance
After a appropriate upside move, ETC amount bootless to breach the $18.80 and $19.00 attrition levels adjoin the US dollar. The ETC/USD brace formed a aerial abreast $19.00 and started a downside move. There was addition attack to bright the aforementioned hurdle, but the amount bootless and topped abreast $18.81. ETC amount confused bottomward and bankrupt the $18.50 abutment area. Moreover, there was a abutting beneath the $18.00 axis akin and the 100 alternate simple affective average.
Additionally, there was a breach beneath a key bullish trend band formed with abutment at $18.20 on the alternate blueprint of the ETC/USD pair. The brace is currently trading abreast the $17.60 akin with an actual abutment at $17.40. Beneath the mentioned support, the amount could accelerate declines appear the $16.60 abutment area. On the upside, an antecedent attrition is abreast the 23.6% Fib retracement akin of the aftermost abatement from the $18.81 aerial to $17.61 low. However, the best important hurdle is abreast $18.20 and the 100 alternate SMA.
The chart suggests that the amount may conceivably face a able attrition at $18.20. If it fails to balance aloft $18.00 and $18.20, there is a accident of added losses beneath the $17.60 akin in the abreast term.
Hourly MACD – The MACD for ETC/USD is accepting clip in the bearish zone.
Hourly RSI – The RSI for ETC/USD is currently abreast the oversold levels.
Major Support Level – $17.60
Major Resistance Level – $18.20
