THELOGICALINDIAN - Ethereum archetypal amount is affective with bullish signs adjoin the US Dollar and Bitcoin ETCUSD is acceptable to extend assets aloft the 1700 akin in the abreast term
Ethereum Classic Price Trend
There was a key support formed abreast the $15.80 akin in ETC amount adjoin the US dollar. The ETC/USD brace started an advancement move and traded aloft the $16.00 attrition and the 100 alternate simple affective average. There was additionally a breach aloft the 23.6% Fib retracement akin of the aftermost bead from the $17.64 aerial to $15.72 low. It opened the doors for added assets and the amount acicular aloft $16.50.
During the upside move, there was a breach aloft a key bearish trend band with attrition at $16.25 on the alternate blueprint of the ETC/USD pair. However, the upside move was capped by the $16.90-17.00 zone. Moreover, the 61.8% Fib retracement akin of the aftermost bead from the $17.64 aerial to $15.72 low additionally acted as a resistance. The amount beneath a few points, but the $16.00 akin and the 100 alternate SMA acted as a support. At the moment, the amount is afterward a application triangle with abutment abreast the $16.45 akin on the aforementioned chart.
The chart suggests that the amount charcoal able-bodied accurate aloft $16.00. On the upside, a breach aloft the $17.00 attrition is appropriate for a bullish extension. The abutting resistances on the upside are at $17.80 and $18.00.
Hourly MACD – The MACD for ETC/USD is hardly placed in the bullish zone.
Hourly RSI – The RSI for ETC/USD is currently collapsed aloft the 50 level.
Major Support Level – $16.00
Major Resistance Level – $17.00
