THELOGICALINDIAN - Ethereum archetypal amount is convalescent college adjoin the US Dollar and Bitcoin ETCUSD is acceptable to barter aloft the 2200 hurdle to advance assets in the abreast term
Ethereum Classic Price Resistance
Recently, there was a alpha of a downside move in ETC amount from the $24.00 beat aerial adjoin the US dollar. The ETC/USD brace traded lower and bankrupt the $24.00 and $22.00 abutment levels. It traded abutting to the $20.00 handle area buyers appeared and adequate added losses. A low was formed at $20.13 from area the amount started an upside move.
It climbed aloft the 23.6% Fib retracement akin of the aftermost bead from the $25.63 aerial to $20.13 low. However, the amount is adverse a aloft hurdle abreast the $21.85-90 zone, which was a abutment earlier. Moreover, there is a key bearish trend band basic with attrition at $22.00 on the alternate blueprint of the ETC/USD pair. A breach aloft the trend band attrition at $22.00 could accessible the doors for added assets in the abreast term. The abutting stop could the 100 hourly simple affective average at $22.88. It is additionally the 50% Fib retracement akin of the aftermost bead from the $25.63 aerial to $20.13 low.
The chart suggests that the amount formed a appropriate abutment abject aloft $20.00. There are aerial affairs of an upside breach aloft $22.00 as continued as the amount stays aloft $21.00.
Hourly MACD – The MACD for ETC/USD is assuming absolute signs in the bullish zone.
Hourly RSI – The RSI for ETC/USD is affective college aloft the 50 level.
Major Support Level – $21.00
Major Resistance Level – $22.00
