THELOGICALINDIAN - Ethereum archetypal amount is in a bearish area adjoin the US Dollar and Bitcoin ETCUSD charge move aback aloft the 1600 attrition to alpha a recovery
Ethereum Classic Price Decline
There were positive moves aloft the $16.50 akin beforehand this anniversary in ETC amount adjoin the US dollar. The ETC/USD brace attempted to bright the $17.25-30 attrition on a brace of occasions. However, buyers bootless to accretion absorption aloft the $17.30 level, consistent in a bearish reaction. The amount beneath acutely and bankrupt abounding supports like $16.50, $16.25, $16.00 and alike $15.00. There was a able abutting beneath $16.00 and the 100 alternate simple affective average.
A low was formed at $14.90 afore the amount started an advancement correction. Buyers pushed the amount aloft the 38.2% Fib retracement akin of the aftermost abatement from the $16.15 aerial to $14.90 low. However, the upside move was capped by the $15.50 level. Moreover, the 50% Fib retracement akin of the aftermost abatement from the $16.15 aerial to $14.90 low additionally acted as a resistance. There is additionally a aloft bearish trend band formed with attrition at $15.65 on the alternate blueprint of the ETC/USD pair. Therefore, a breach aloft $15.50 and $15.65 is bare for more recoveries in the abreast term.
The chart suggests that the amount charcoal in a bearish area beneath the $16.00 and $16.25 supports. On the downside, the $15.00 abutment holds a lot of significance. Beneath this, the amount could analysis $14.20.
Hourly MACD – The MACD for ETC/USD is boring affective aback in the bullish zone.
Hourly RSI – The RSI for ETC/USD is currently abreast the 40 level.
Major Support Level – $15.00
Major Resistance Level – $16.00
