THELOGICALINDIAN - Ethereum archetypal amount is boring accepting drive adjoin the US Dollar and Bitcoin ETCUSD charge breach the 1750 attrition for added assets in the abreast term
Ethereum Classic Price Resistance
There was a strong support formed abreast the $15.50 akin in in ETC amount adjoin the US dollar. The ETC/USD brace jumped college and bankrupt the $16.00 and $16.50 attrition levels. It alike confused aloft the $17.00 akin and traded appear $17.50. A aerial was formed at $17.50 afore the amount started a downside correction. It beneath beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $15.66 low to $17.50 high.
However, declines were bound by the $16.70-80 zone. Moreover, there was no analysis of the 50% Fib retracement akin of the aftermost beachcomber from the $15.66 low to $17.50 high. The amount formed a low abreast the $16.70 akin and recovered higher. ETC amount is now trading able-bodied aloft the $16.50 abutment and the 100 alternate simple affective average. On the upside, an antecedent attrition is at $17.20. Aloft this, there is a abutting attrition trend band formed with accepted hurdle abreast $17.50 on the alternate blueprint of the ETC/USD pair.
The chart suggests that the amount is placed accurately aloft the $16.50 support. Having said that, it charge breach the $17.20 and $17.50 attrition levels to accretion upside momentum. The abutting above attrition for buyers is about the $18.00 level.
Hourly MACD – The MACD for ETC/USD is boring affective in the bearish zone.
Hourly RSI – The RSI for ETC/USD is able-bodied aloft the 50 level.
Major Support Level – $16.50
Major Resistance Level – $17.50
