THELOGICALINDIAN - Ethereum archetypal amount is beneath abundant affairs burden adjoin the US Dollar and Bitcoin ETCUSD could advance losses beneath the 1400 abutment if sellers abide in action
Ethereum Classic Price Decline
There was a aloft downside move from able-bodied aloft $18.00 in ETC amount adjoin the US dollar. The ETC/USD brace beneath and bankrupt the $17.50 and $16.00 abutment levels. The abatement was such that the amount alike bankrupt the $15.00 abutment level. A low was formed at $14.55 and the amount is currently accumulation losses. An antecedent attrition on the upside is abreast the $15.00-15.10 zone.
There is additionally a aloft bearish trend band in abode with attrition at $15.30 on the alternate blueprint of the ETC/USD pair. Aloft the trend line, the 23.6% Fib retracement akin of the aftermost abatement from the $20.23 aerial to $14.55 low is at $15.89. If the amount manages to move aloft the trend band and $15.80, the abutting hurdle is abreast the $16.80 akin and the 100 alternate simple affective average. Moreover, the 38.2% Fib retracement akin of the last decline from the $20.23 aerial to $14.55 low is additionally at $16.72.
The chart suggests that ETC amount akin best its aftermost anniversary assets and traded aback in a bearish area beneath $16.00. Should there be an upside move, the amount will best acceptable face sellers abreast the $15.80 and $16.00 levels. On the downside, a breach beneath $14.55 could advance the amount beneath the $14.00 level.
Hourly MACD – The MACD for ETC/USD is hardly in the bullish zone.
Hourly RSI – The RSI for ETC/USD is now able-bodied beneath the 50 level.
Major Support Level – $14.00
Major Resistance Level – $15.80
