THELOGICALINDIAN - Ethereum archetypal amount confused into a abrogating area adjoin the US Dollar and Bitcoin ETCUSD is acclimation college but upsides are acceptable to be capped by 15801600
Ethereum Classic Price Resistance
This week, there were mostly bearish moves in ETC amount from the $18.00 akin adjoin the US dollar. The ETC/USD brace beneath acutely and confused beneath the $17.00 and $16.00 abutment levels. The abatement was such that the amount alike bankrupt the $15.00 abutment zone. It traded abutting to the $14.20 abutment akin afore buyers appeared. A low was formed abreast $14.40 afore it started an upside correction.
ETC amount climbed aloft the $15.00 akin and additionally confused aloft the 38.2% Fib retracement akin of the aftermost bead from the $16.18 aerial to $14.44 low. However, the accepted alteration beachcomber is adverse a lot of hurdles abreast the $15.50 level. There is additionally a above bearish trend band basic with attrition at $15.80 on the alternate blueprint of the ETC/USD pair. Moreover, the 61.8% Fib retracement akin of the aftermost bead from the $16.18 aerial to $14.44 low is acting as a attrition abreast $15.50. Therefore, it seems like the accepted alteration beachcomber is acceptable to face hurdles abreast the $15.60-15.80 zone.
The chart suggests that the amount is assuming signs of a recovery. However, a able abutting aloft $16.00 is bare for buyers to booty control. On the downside, the $15.00 and $14.50 levels are important supports.
Hourly MACD – The MACD for ETC/USD has confused aback in the bullish zone.
Hourly RSI – The RSI for ETC/USD is affective college and is abutting the 50 level.
Major Support Level – $15.00
Major Resistance Level – $15.80
