THELOGICALINDIAN - Ethereum archetypal amount is currently in a bearish area adjoin the US Dollar and Bitcoin ETCUSD may conceivably abide to abatement appear 880 or 860
In the aftermost analysis, we discussed the key abutment at $9.20-$9.25 in ETC amount adjoin the US dollar. The ETC/USD brace bootless to break aloft the $9.25 abutment and beneath further. It traded beneath the $9.00 abutment and acclimatized beneath the 100 alternate simple affective average. The amount as low as $8.90 and after adapted higher. It confused aloft the $9.10 akin and the 23.6% Fib retracement akin of the contempo abatement from the $9.57 aerial to $8.90 low.
However, the upside move was capped by the $9.25 level, which was a abutment earlier. Moreover, the 50% Fib retracement akin of the contempo abatement from the $9.57 aerial to $8.90 low acted as a solid barrier. Besides, there is a above bearish trend band in abode with attrition at $9.25 on the alternate blueprint of the ETC/USD pair. The brace is currently beneath burden and it is trading about the $9.00 support. If sellers abide in action, the amount may conceivably extend losses beneath the $8.90 low. The abutting capital abutment is at $8.80 followed by $8.60.
The chart suggests that ETC amount is trading in a bearish area beneath $9.25. Only a abutting aloft $9.20 and $9.25 could advance the amount aback in a absolute area in the abreast term.
Hourly MACD – The MACD for ETC/USD is placed in the bearish zone.
Hourly RSI – The RSI for ETC/USD is currently able-bodied beneath the 40 level.
Major Support Level – $9.00
Major Resistance Level – $9.25
