THELOGICALINDIAN - Ethereum archetypal amount is placed accurately in the bullish area adjoin the US Dollar and Bitcoin ETCUSD could move bottomward a few credibility but it charcoal accurate on the downside
Ethereum Classic Price Uptrend
There were nasty gains in ETC amount from the $25.00 beat low adjoin the US dollar. The amount was able to move aloft the $28.00 and $30.00 attrition levels. The upside move was able as the amount traded as aerial as $35.44. Later, a downside beachcomber was accomplished and the amount confused beneath $34.00. It alike bankrupt the 23.6% Fib retracement akin of the aftermost beachcomber from the $27.32 low to $35.44 high.
Moreover, there was a breach beneath a abutting bullish trend band with abutment at $33.00 on the alternate blueprint of the ETC/USD pair. The brace activated the $32.30 abutment and is currently trading accurately aloft $32.50. There was a analysis of the 38.2% Fib retracement akin of the aftermost beachcomber from the $27.32 low to $35.44 high. At the moment, the amount is consolidating in a ambit aloft the $32.00 level. It may actual a few points, but the all-embracing trend is absolute as continued as there is no abutting beneath $30.00.
On the downside, there is a aloft abutment at 50% Fib retracement akin of the aftermost beachcomber from the $27.32 low to $35.44 aerial abreast $31.38. On the upside, the amount has to move aloft $35.40 to barter appear $40.00.
Hourly MACD – The MACD for ETC/USD has bargain best of its bullish slope.
Hourly RSI – The RSI for ETC/USD is currently aloof about the 50 level.
Major Support Level – $31.30
Major Resistance Level – $35.40
Charts address – SimpleFX
