THELOGICALINDIAN - Ethereum archetypal amount is disturbing to accretion upside drive adjoin the US Dollar and Bitcoin ETCUSD charge breach the 1550 hurdle for added assets in the abreast term
Ethereum Classic Price Upside Hurdle
After forming a low near the $14.75 level, ETC amount recovered and confused aloft the $15.00 attrition adjoin the US dollar. The ETC/USD brace recovered aloft the $15.20 attrition and alike bankrupt the 23.6% Fib retracement akin of the aftermost abatement from the $16.45 aerial to $14.75 low. However, the amount faced a lot of barriers abreast the $15.50 and $15.60 levels.
More importantly, the 100 alternate simple affective boilerplate about $15.60 prevented gains. Additionally, the 50% Fib retracement akin of the aftermost abatement from the $16.45 aerial to $14.75 low additionally acted as a hurdle. It seems like the amount is adverse a boxy claiming abreast $15.50 and it could decline already again. There is additionally a key bearish trend band in abode with attrition abreast $15.40 on the alternate blueprint of the ETC/USD pair. As continued as the brace is afterward the trend line, it charcoal at a accident of added losses aback appear $15.00.
The chart suggests if the amount succeeds in allowance the $15.50 and $15.60 attrition levels, there may conceivably be an upside ride appear $16.20. Further aloft $16.20, the amount may able-bodied retest the $16.40 akin (the abutting above barrier).
Hourly MACD – The MACD for ETC/USD is boring accepting clip in the bearish zone.
Hourly RSI – The RSI for ETC/USD is affective lower and it is about to achieve beneath the 50 level.
Major Support Level – $15.00
Major Resistance Level – $15.50
