THELOGICALINDIAN - Ethereum archetypal amount is captivation the absolute bent adjoin the US Dollar and Bitcoin ETCUSD could boring move appear the allimportant 1200 resistance
After trading as low as $10.40, ETC amount started an upward move adjoin the US dollar. The ETC/USD brace acclimatized aloft the $10.80 abutment breadth and formed an average low at $10.78. Later, it traded aloft the $11.00 and $11.20 attrition levels. However, the amount bootless to bright the $11.55 attrition and beneath appear the $11.00 level. Buyers appeared abreast $11.00 and pushed the amount aloft the 50% Fib retracement akin of the contempo abatement from the $11.57 aerial to $10.96 low.
However, it seems like the amount is disturbing to achieve aloft the $10.40 akin and the 100 alternate simple affective average. There is additionally a key bearish trend band formed with attrition at $11.35 on the alternate blueprint of the ETC/USD pair. Aloft the trend line, the 61.8% Fib retracement akin of the contempo abatement from the $11.57 aerial to $10.96 low is at $11.34. Therefore, buyers charge to bright the $11.35 attrition to accretion drive in the abreast term. Aloft this, the amount is acceptable to breach the $11.57 high. The next targets for buyers could be $11.80 and $12.00.
The chart suggests that ETC amount is advancing for the abutting move aloft $11.35. On the cast side, if there is a downside break, the $11.00 and $10.80 supports are acceptable to anticipate losses.
Hourly MACD – The MACD for ETC/USD is accepting in the bullish zone.
Hourly RSI – The RSI for ETC/USD is currently aloft the 55 level.
Major Support Level – $10.80
Major Resistance Level – $11.35
