THELOGICALINDIAN - Ethereum archetypal amount is beneath abundant affairs burden adjoin the US Dollar and Bitcoin ETCUSD is acceptable to extend the accepted abatement appear the 1000 akin in the abreast term
Ethereum Classic Price Upside Hurdle
There was a aberrant abatement in ETC amount from able-bodied aloft $20.00 adjoin the US dollar. The amount followed added above cryptocurrencies such as Ethereum, Ripple and Bitcoin cash to move bottomward by added than 60%. There was a awful downside move and the amount traded beneath the $18.00 and $15.00 abutment levels. A low was formed afresh at $13.89 and the amount is currently attempting a accessory upside correction.
An antecedent attrition on the upside is abreast the 23.6% Fib retracement akin of the aftermost abatement from the $24.30 aerial to $13.89 low. Moreover, there is a key bearish trend band basic with accepted attrition at $16.50 on the alternate blueprint of the ETC/USD pair. The trend band attrition is important and it could anticipate assets aloft $17.00. Aloft $17.00, the amount may analysis the 50% Fib retracement akin of the aftermost abatement from the $24.30 aerial to $13.89 low. The best crucial barrier for a above accretion in ETC is about the $19.00 and $20.00 levels.
On the downside, a breach beneath the $13.50 akin could advance the amount appear the $11.00 and $10.00 abutment levels.
Hourly MACD – The MACD for ETC/USD is placed heavily in the bullish zone.
Hourly RSI – The RSI for ETC/USD is currently assuming signs of an acute oversold condition.
Major Support Level – $11.00
Major Resistance Level – $19.00
Charts address – Trading View, Kraken
