THELOGICALINDIAN - Ethereum archetypal amount is in a bearish trend adjoin the US Dollar and Bitcoin ETCUSD is acceptable to abide in a declivity appear 1300 and 1200
Ethereum Classic Price Trend
There was a strong rejection acclaimed about the $15.80 and $16.00 resistances in ETC amount adjoin the US dollar. The ETC/USD brace started a downside move and beneath beneath the $15.20 support. It alike bankrupt the $15.00 abutment and acclimatized beneath the 100 alternate simple affective average. It opened the doors for added declines back there was a abutting beneath $15.00.
More importantly, there was a breach beneath a key bullish trend band with abutment at $15.00 on the alternate blueprint of the ETC/USD pair. The brace traded added lower appear the $14.00 level. A low was formed at $14.17 and it seems like the accepted abatement is not over yet. On the upside, an antecedent attrition for ETC is abreast the 23.6% Fib retracement akin of the aftermost abatement from the $15.53 aerial to $14.17 low. However, the best important barrier for buyers is abutting to $15.00 and the 100 alternate SMA.
The chart suggests that the amount may acquisition sellers on the upside abreast $14.80 and $15.00. On the downside, a breach beneath the contempo low of $14.17 may accessible the doors for a advance beneath the $14.00 level. The abutting supports on the downside are at $13.00 and $12.00.
Hourly MACD – The MACD for ETC/USD is currently in the bearish zone.
Hourly RSI – The RSI for ETC/USD is affective lower and is currently able-bodied beneath the 50 level.
Major Support Level – $14.00
Major Resistance Level – $15.00
