THELOGICALINDIAN - Ethereum archetypal amount is acclimation lower adjoin the US Dollar and Bitcoin ETCUSD charge authority the 1275 abutment to resume its upside move in the abreast term
Ethereum Classic Price Trend
During the accomplished two days, there was a steady rise from the $12.10 abutment in ETC amount adjoin the US dollar. The ETC/USD brace climbed college and bankrupt the $12.50, $12.75 and $13.00 attrition levels. It traded abutting to the $13.40 akin and formed a concise top at $13.37. Later, there was a downside alteration and the amount confused beneath $13.00. The amount additionally confused beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $12.27 low to $13.37 high.
However, the amount is now abutting a acute abutment abreast the $12.75-12.80 area. There is additionally a aloft bullish trend band in abode with abutment at $12.75 on the alternate blueprint of the ETC/USD pair. The 50% Fib retracement akin of the aftermost beachcomber from the $12.27 low to $13.37 aerial is additionally aloft the trend band support. Moreover, the 100 alternate SMA is positioned at $12.70 to act as a support. Therefore, if the amount continues to move down, it is acceptable to find support abreast $12.70 and $12.75. Below these, it could move aback appear $12.10.
The chart suggests that ETC amount charcoal accurate abreast $12.75 and the 100 alternate SMA. On the upside, an antecedent attrition is abreast $13.00 followed by a bearish trend band at $13.10.
Hourly MACD – The MACD for ETC/USD is hardly placed in the bearish zone.
Hourly RSI – The RSI for ETC/USD is now able-bodied beneath the 50 level.
Major Support Level – $12.75
Major Resistance Level – $13.10
