THELOGICALINDIAN - Ethereum archetypal amount is affective with a absolute bent adjoin the US Dollar and Bitcoin ETCUSD is placed able-bodied aloft 1620 for added assets aloft 1750
Ethereum Classic Price Support
There was a major abutment base formed abreast $14.00 in ETC amount adjoin the US dollar. The ETC/USD brace started a solid upside move and bankrupt abounding resistances, including $15.00 and $16.00. There was alike a breach and abutting aloft the $16.50 axis akin and the 100 alternate simple affective average. The upside move was such that the amount alike climbed aloft the $17.00 akin and traded as aerial as $17.45.
At the moment, the amount is acclimation lower and it may analysis the 23.6% Fib retracement akin of the aftermost beachcomber from the $14.83 low to $17.45 high. More importantly, there is a crucial bullish trend line formed with abutment at $16.20 on the alternate blueprint of the ETC/USD pair. The aforementioned trend band abutment is abreast the 50% Fib retracement akin of the aftermost beachcomber from the $14.83 low to $17.45 high. Moreover, the $16.20-50 area was a attrition beforehand and it may now accommodate abutment if the amount moves down. On the upside, an antecedent attrition is abreast $17.45-50.
The chart suggests that the amount is placed accurately in an uptrend aloft $16.20. A breach aloft the $17.50 attrition may accessible the doors for added assets aloft $18.00.
Hourly MACD – The MACD for ETC/USD is placed in the bullish zone.
Hourly RSI – The RSI for ETC/USD is currently able-bodied into the overbought area with a bullish bias.
Major Support Level – $16.20
Major Resistance Level – $17.50
