THELOGICALINDIAN - Ethereum archetypal amount is boring convalescent adjoin the US Dollar and Bitcoin ETCUSD needs to breach the 28002820 attrition for added assets in the abreast term
Ethereum Classic Price Trend
Recently, we saw a decline in ETC amount beneath the $26.00 akin adjoin the US dollar. The amount traded as low as $25.47 afore it started an upside recovery. There was a breach aloft the 23.6% Fib retracement akin of the aftermost abatement from the $30.08 aerial to $25.47 low. The upside move was absolute back the amount was able to move aloft the $26.00 level.
There was alike a breach aloft a acute bearish trend band with attrition at $27.40 on the alternate blueprint of the ETC/USD pair. The brace traded aloft the 50% Fib retracement akin of the aftermost abatement from the $30.08 aerial to $25.47 low. Moreover, there was a breach aloft the $28.00 level, but the brace was not able to accretion momentum. The upside move was capped by the 61.8% Fib retracement akin of the aftermost abatement from the $30.08 aerial to $25.47 low. It seems like the $28.00-28.20 akin is acting as a strong barrier for buyers.
Once there a breach aloft $28.20, the brace could advance aloft $30.00. On the downside, an antecedent abutment is about the $27.20 level. However, the best important supports sits about the $25.00 level.
Hourly MACD – The MACD for ETC/USD is now boring affective aback in the bullish zone.
Hourly RSI – The RSI for ETC/USD is currently affective lower appear the 50 level.
Major Support Level – $25.00
Major Resistance Level – $28.20
Charts address – Trading View, Kraken
