THELOGICALINDIAN - Ethereum archetypal amount is disturbing to balance adjoin the US Dollar and Bitcoin ETCUSD has to move aloft the 2100 and 2300 resistances to accretion upside momentum
Ethereum Classic Price Resistance
There was no abundant recovery aloft $24.00 in ETC amount during the accomplished few canicule adjoin the US dollar. The amount activated the $16.50-20.00 abutment breadth on abounding occasions, and succeeded in alienated declines. It is currently trading aloof aloft the $20.00 and is accumulation losses. It seems like the amount is award is actual adamantine to balance aloft the $21.00 attrition breadth in the abbreviate term.
On the upside, there are two key bearish trend curve basic with attrition at $21.00 and $23.00 on the alternate blueprint of the ETC/USD pair. The 23.6% Fib retracement akin of the aftermost bead from the $31.18 aerial to $19.61 low is abreast $22.34 to act as an average resistance. Once there is a able breach aloft $22.35 and $23.00, there could be added gains. The abutting attrition could be about 50% Fib retracement akin of the last drop from the $31.18 aerial to $19.61 low about $25.40.
Moreover, the 100 alternate SMA is sitting abreast $21.00. A breach aloft the $21.00 akin and 100 SMA could be a absolute assurance in the abbreviate term. On the downside, the amount has to break aloft $20.00 and $16.50 to abstain added declines.
Hourly MACD – The MACD for ETC/USD is mostly collapsed in the bearish zone.
Hourly RSI – The RSI for ETC/USD is currently affective college appear the 50 level.
Major Support Level – $20.00
Major Resistance Level – $23.00
Charts address – Trading View
