THELOGICALINDIAN - Ethereum archetypal amount is affective lower in a bearish aisle adjoin the US Dollar and Bitcoin ETCUSD could abatement added appear the 2800 and 2600 abutment levels
Ethereum Classic Price Resistance
There were appropriate gains in ETC amount aloft the $30.00 akin adjoin the US dollar. The amount traded as aerial as $33.41 from breadth a downside beachcomber was initiated. It confused beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $26.00 low to $33.41 high. The downside move continued beneath the $31.00 abutment area, which afire added declines.
During the downside move, there was a breach beneath an important bullish trend band with abutment at $30.30 on the alternate blueprint of the ETC/USD pair. The brace is currently testing the $29.60 abutment and the 100 alternate simple affective average. Moreover, the 50% Fib retracement akin of the aftermost beachcomber from the $26.00 low to $33.41 aerial is additionally acting as a support. However, the brace is now beneath $30.80 and the $30.20 supports, which agency it is at a accident of added declines.
On the upside, there is a abutting bearish trend band basic with attrition at $30.20. A breach aloft the trend band and $30.50 is bare to abstain added declines. Aloft $30.50, the amount could retest the $33.00 beat aerial in the abreast term.
Hourly MACD – The MACD for ETC/USD is accepting drive in the bearish zone.
Hourly RSI – The RSI for ETC/USD is currently beneath the 50 level, but it is assuming a few absolute signs.
Major Support Level – $28.80
Major Resistance Level – $30.50
Charts address – Trading View, Kraken
