THELOGICALINDIAN - Ethereum archetypal amount afresh begin abutment adjoin the US Dollar and Bitcoin ETCUSD is convalescent but upsides could be capped by 1100 and 1120
Ethereum Classic Price Resistance
There was a downside extension in ETC amount beneath the $11.00 abutment breadth adjoin the US dollar. The ETC/USD brace beneath beneath the $10.50 and $10.25 abutment levels. It traded as low as $10.15 afore buyers appeared. Later, there was an upside alteration and the amount confused aback aloft $10.50. There was additionally a breach aloft the 50% Fib retracement akin of the aftermost abatement from the $11.49 aerial to $10.15 low.
However, the upside move was capped by the $11.00 attrition zone. Moreover, the 61.8% Fib retracement akin of the aftermost abatement from the $11.49 aerial to $10.15 low chock-full the upside move. There is additionally a crumbling approach in abode with attrition at $11.00 on the alternate blueprint of the ETC/USD pair. Above the approach resistance, the 100 alternate SMA is placed abreast the $11.10 level. Therefore, it seems like it won’t be accessible for buyers to bright the $11.00, $11.10 and $11.20 attrition levels. If there is a fresh decline, the $10.40 akin is an antecedent support.
The chart suggests that ETC amount could accelerate afresh if it fails to move accomplished the $11.20 resistance. Above $11.20, the amount may able-bodied acceleration aback appear the $11.80 and $12.00 levels in the abreast term.
Hourly MACD – The MACD for ETC/USD is hardly placed in the bullish zone.
Hourly RSI – The RSI for ETC/USD is currently affective lower appear the 50 level.
Major Support Level – $10.40
Major Resistance Level – $11.20
