THELOGICALINDIAN - Ethereum archetypal amount is placed in a nice uptrend adjoin the US Dollar and Bitcoin ETCUSD is captivation an important abutment aloft 1700 which is a absolute sign
Ethereum Classic Price Support
There were sharp gains in ETC amount aloft the $17.50 attrition adjoin the US dollar. The ETC/USD brace bankrupt the $18.00 attrition and traded abutting to the $18.40 resistance. A aerial was formed at $18.37 afore the amount started a downside correction. It beneath and bankrupt the $18.00 and $17.50 abutment levels. However, the downside move begin abutment abreast a key arena at $17.10 and the 100 alternate simple affective average.
More importantly, there is a cogent bullish trend band in abode with abutment at $17.10 on the alternate blueprint of the ETC/USD pair. It seems like the trend line, abutment aloft $17.00 and the 100 alternate SMA are important for the accepted wave. The amount bounced aback acutely and confused aloft the $17.40 level. It additionally bankrupt the 23.6% Fib retracement akin of the aftermost abatement from the $18.37 aerial to $17.07 low. The brace is acceptable to advance assets aloft the $17.50 level. The abutting attrition is abreast the 50% Fib retracement akin of the aftermost abatement from the $18.37 aerial to $17.07 low at $17.72. Aloft this, the amount could breach the $18.00 resistance.
The chart suggests that the amount charcoal in an uptrend aloft $17.00. Any dips are acceptable to acquisition buyers abreast the $17.10 akin and the 100 alternate SMA.
Hourly MACD – The MACD for ETC/USD is about to move aback in the bullish zone.
Hourly RSI – The RSI for ETC/USD aloof confused aloft the 50 level.
Major Support Level – $17.10
Major Resistance Level – $17.72
