THELOGICALINDIAN - Ethereum archetypal amount beneath beneath key supports adjoin the US Dollar and Bitcoin ETCUSD ability balance in the abbreviate appellation but it could face sellers abreast 1300
Ethereum Classic Price Resistance
There was a beginning alpha of a downside move from the $14.70 beat aerial in ETC amount adjoin the US dollar. The ETC/USD brace beneath heavily and bankrupt the $13.00 and $12.50 abutment levels. It traded abutting to the $12.00 akin and formed a low at $12.19. The amount acclimatized beneath the $13.00 abutment akin and the 100 alternate simple affective average. At the moment, the amount is accumulation losses aloft $12.20 and it could actual higher.
An antecedent attrition is abreast the 23.6% Fib retracement akin of the aftermost abatement from the $13.75 aerial to $12.19 low. There is additionally a key bearish trend band formed with attrition at $12.80 on the alternate blueprint of the ETC/USD pair. The aforementioned trend band is positioned abreast the 50% Fib retracement akin of the aftermost abatement from the $13.75 aerial to $12.19 low. A breach aloft the trend band attrition could accessible the doors for added assets appear the $13.40 level. If the amount fails to move higher, it could breach the contempo low abreast $12.20. The next support awaits on the downside at $12.00.
The chart suggests that ETC amount charcoal at a accident of added losses beneath the $12.20 level. Selling on rallies abreast the $12.80 and $13.00 is a appropriate option.
Hourly MACD – The MACD for ETC/USD is affective in the bearish zone.
Hourly RSI – The RSI for ETC/USD is now able-bodied beneath the 45 level.
Major Support Level – $12.20
Major Resistance Level – $13.00
