THELOGICALINDIAN - Ethereum archetypal amount is boring and steadily affective college adjoin the US Dollar and Bitcoin ETCUSD may anon accretion absorption for added upsides aloft 2024
Ethereum Classic Price Trend
Recently, we saw a aloft decline in ETC amount beneath the $20.00 abutment adjoin the US dollar. The amount traded beneath the $18.00 and $16.00 abutment levels. It alike traded beneath the $15.00 support, but begin bids abreast the $13.50 level. A low was formed at $13.54 from area an upside alteration was initiated. It confused aloft the 38.2% Fib retracement akin of the aftermost abatement from the $24.30 aerial to $13.54 low.
Moreover, there was a breach aloft a aloft bearish trend band with attrition at $17.80 on the alternate blueprint of the ETC/USD pair. The brace traded aloft the $18.50 attrition and activated the 100 alternate simple affective average. It seems like the $20.00 attrition and the 61.8% Fib retracement akin of the aftermost abatement from the $24.30 aerial to $13.54 low is acting as a hurdle for added gains. The brace has to move aloft the $20.00 akin and abutting aloft the 100 alternate SMA to acceleration added higher.
On the downside, an antecedent abutment is about the $18.50 level. It seems like there is an ascendance approach basic on the aforementioned blueprint and the brace could acceleration slowly college aloft the $20.00 level.
Hourly MACD – The MACD for ETC/USD is hardly placed in the bullish zone.
Hourly RSI – The RSI for ETC/USD is currently aloof about the 50 akin with a accessory bearish angle.
Major Support Level – $18.00
Major Resistance Level – $20.00
Charts address – SimpleFX
