THELOGICALINDIAN - Ethereum archetypal amount fell added adjoin the US Dollar and Bitcoin ETCUSD is now able-bodied beneath the 2500 akin and it eyes added declines in the abreast term
Ethereum Classic Price Resistance
There was no aloft upside move aloft $30.00 in ETC amount afresh adjoin the US dollar. The amount started crumbling and it bankrupt a aloft abutment breadth abreast $25.00. It afire added declines and the amount alike bankrupt the $22.00 support. Looking at the accepted trend, there is a lot of burden back the amount is able-bodied beneath the $25.00 handle and the 100 alternate simple affective average.
The downside move was such that the amount traded abutting to the $20.00 handle. The contempo low formed was $20.27 from area an upside alteration was initiated. It activated the 23.6% Fib retracement akin of the aftermost abatement from the $29.55 aerial to $20.27 low. However, the upside move was capped and the amount seems to be disturbing to move aloft $22.30. There is additionally a above bearish trend band forming with resistance at $22.40 on the alternate blueprint of the ETC/USD pair.
The best acute attrition on the upside is about $25.00. It is additionally abutting to the 50% Fib retracement akin of the aftermost abatement from the $29.55 aerial to $20.27 low. On the downside, the $20.00 handle is a above abutment and a buy zone.
Hourly MACD – The MACD for ETC/USD is about to move aback in the bearish zone.
Hourly RSI – The RSI for ETC/USD is currently beneath the 40 level.
Major Support Level – $20.00
Major Resistance Level – $22.40
Charts address – Trading View
