THELOGICALINDIAN - Ethereum archetypal amount recovered a few credibility adjoin the US Dollar and Bitcoin ETCUSD is currently acclimation lower appear the 925930 support
After trading as low as $8.74, ETC amount formed a base for a appropriate accretion adjoin the US dollar. The ETC/USD brace started an advancement move and traded aloft the $8.90 and $9.00 attrition levels. The amount alike acclimatized aloft the $9.00 barrier and the 100 alternate simple affective average. Later, there was a breach aloft a acute axis akin abreast the $9.05-9.10 zone.
More importantly, there was a breach aloft a above bearish trend band with attrition at $9.10 on the alternate blueprint of the ETC/USD pair. The brace traded appear the $9.50 attrition area area sellers appeared. A aerial was formed at $9.62 and after the amount started a downside correction. It beneath beneath the 23.6% Fib retracement akin of the contempo beachcomber from the $8.74 low to $9.62 high. However, there is a decent support formed abreast the $9.20-9.30 zone. Besides, there is a abutting bullish trend band in abode with abutment at $9.25 on the aforementioned chart. Finally, the 50% Fib retracement akin of the contempo beachcomber from the $8.74 low to $9.62 aerial is at $9.18.
The chart suggests that ETC amount could acquisition a able abutment abreast the $9.20 level. As continued as there is no abutting beneath $9.20, the amount may balance added aloft the $9.50 and $9.60 resistances in the abreast term.
Hourly MACD – The MACD for ETC/USD is hardly placed in the bullish zone.
Hourly RSI – The RSI for ETC/USD is affective lower appear the 50 level.
Major Support Level – $9.20
Major Resistance Level – $9.60
