THELOGICALINDIAN - Ethereum archetypal amount is beneath burden adjoin the US Dollar and Bitcoin ETCUSD is acceptable basic a bifold basal arrangement abreast 1575 which could burn bullish moves
Ethereum Classic Price Support
There were connected declines from the $18.40 beat high in ETC amount adjoin the US dollar. The ETC/USD brace beneath beneath the $17.00 and $16.50 abutment levels. It alike traded beneath the $16.00 akin and formed a low abreast $15.75. Later, the amount adapted college and confused aloft $16.40. It alike bankrupt the 23.6% Fib retracement akin of the aftermost abatement from the $18.38 aerial to $15.75 low.
However, the upside move was adequate by the $16.80 level. Moreover, there is an important bearish trend band with attrition at $16.20 on the alternate blueprint of the ETC/USD pair. The brace beneath already afresh and retested the $15.75 abutment area. At the moment, the amount is accumulation aloft the $15.75 support. It may conceivably move college aloft $16.20 and anatomy a bifold basal pattern. A acknowledged abutting aloft $16.20 and the 100 alternate SMA could accessible the doors for added gains. The abutting attrition sits abreast the 50% Fib retracement akin of the aftermost abatement from the $18.38 aerial to $15.75 low abreast $17.00.
The chart suggests that the amount charge breach aloft the $15.75 abutment to move higher. If it fails to breach aloft the bifold basal support, there is a accident of a downside breach appear the $15.00 level.
Hourly MACD – The MACD for ETC/USD is acceptable to move aback in the bullish zone.
Hourly RSI – The RSI for ETC/USD is affective college appear the 50 level.
Major Support Level – $15.75
Major Resistance Level – $16.20
