THELOGICALINDIAN - Ethereum archetypal amount is currently beneath burden adjoin the US Dollar and Bitcoin ETCUSD may abatement added appear the aftermost beat low of 1660
Ethereum Classic Price Decline
Recently, there was a nice upside move aloft $18.00 in ETC amount adjoin the US dollar. The ETC/USD brace traded appear $18.50-60 area sellers emerged. As a result, the amount started a downside move and beneath beneath the $18.00 and $17.80 abutment levels. More importantly, the amount traded beneath a acute abutment akin at $17.45, which prevented declines on abounding occasions.
The amount traded abutting to the $17.00 akin and a low was formed at $17.06. At the moment, the amount is accumulation losses and it may analysis the 23.6% Fib retracement akin of the aftermost abatement from the $18.54 aerial to $17.06 low. Any added assets could be bound by the $17.45-50 zone, which was a abutment earlier. Moreover, there is a concise bearish trend band basic with attrition at $17.60 on the alternate blueprint of the ETC/USD pair. The trend band resistance is additionally abutting to the 38.2% Fib retracement akin of the aftermost abatement from the $18.54 aerial to $17.06 low.
The chart suggests that the amount may actual a few points, but it won’t be accessible for buyers to breach the $17.5-60 resistance. On the downside, the amount may analysis the $16.80 support, followed by the abutting above abutment at $16.60.
Hourly MACD – The MACD for ETC/USD is aback in the bullish zone.
Hourly RSI – The RSI for ETC/USD is able-bodied beneath the 50 akin with a few abrogating signs.
Major Support Level – $16.60
Major Resistance Level – $17.60
