THELOGICALINDIAN - Ethereum archetypal amount is accepting drive adjoin the US Dollar and Bitcoin ETCUSD could abide to bullwork college aloft 1000 in the abreast term
This accomplished week, we saw a slow and abiding rise from the $9.00 abutment breadth in ETC amount adjoin the US dollar. The ETC/USD brace remained in a appropriate uptrend and followed a bullish aisle aloft the $9.50 level. The amount afresh climbed aloft the $9.80 and $10.00 attrition levels. A new account aerial was formed at $10.15 afore the amount started a downside correction.
It confused beneath the 23.6% Fib retracement akin of the contempo beachcomber from the $9.47 low to $10.15 high. However, there are abounding supports on the downside aloft the $9.50 level. An antecedent abutment is the $9.80 level. It coincides with the 50% Fib retracement akin of the contempo beachcomber from the $9.47 low to $10.15 high. Beneath $9.80, the amount could acquisition abutment abreast $9.60 and the 100 alternate simple affective average. More importantly, the aftermost week’s followed acute ascendance approach formed is complete with abutment at $9.60 on the alternate blueprint of the ETC/USD pair. Therefore, if the amount corrects further from the accepted levels, it could acquisition abutment abreast $9.60 or $9.50.
The chart suggests that ETC amount is afterward a appropriate uptrend and it may abide to accretion absorption aloft the $10.00 level. The abutting attrition aloft $10.00 is abreast the $10.30 level.
Hourly MACD – The MACD for ETC/USD is boring affective in the bearish zone.
Hourly RSI – The RSI for ETC/USD is still aloft the 50 level.
Major Support Level – $9.50
Major Resistance Level – $10.00
