THELOGICALINDIAN - Ethereum archetypal amount is placed in a bullish area adjoin the US Dollar and Bitcoin ETCUSD is acceptable to move added college appear the 1800 and 1850 levels
Ethereum Classic Price Trend
There was a solid abutment formed about the $15.50 akin in ETC amount adjoin the US dollar. The ETC/USD brace remained able-bodied aloft the $15.00 axis akin and the 100 alternate simple affective average. The amount circumscribed for a few sessions aloft the $15.50 abutment afore starting the abutting move. It climbed college and bankrupt the $16.00 and $16.20 resistance levels.
More importantly, there was a breach aloft a key bearish trend band with attrition at $16.05 on the alternate blueprint of the ETC/USD pair. The brace acicular aloft the $17.00 akin and a aerial was formed at $17.13. At the moment, the amount is accumulation assets aloft the $16.50 level. It activated the 23.6% Fib retracement akin of the aftermost beachcomber from the $15.58 low to $17.13 high. However, downsides were bound and it seems like the amount is advancing for added assets aloft $17.00. There is an accretion triangle formed with attrition at $17.15. A breach aloft this could accessible the doors for more gains appear the $18.00 level.
The chart suggests that the amount is in a bullish area aloft the $16.50 level. As continued as ETC is aloft the $16.50 and $16.00 supports, it could abide to move college appear $18.00 and $18.50.
Hourly MACD – The MACD for ETC/USD is placed hardly in the bullish zone.
Hourly RSI – The RSI for ETC/USD is able-bodied aloft the 60 level.
Major Support Level – $16.00
Major Resistance Level – $17.15
