THELOGICALINDIAN - Ethereum archetypal amount is in an uptrend adjoin the US Dollar and Bitcoin ETCUSD could abide to move college appear 2250 and 2300 in the abreast term
Ethereum Classic Price Trend
There were multiple attempts by sellers to advance ETC amount beneath $20.00 adjoin the US dollar. The ETC/USD brace captivated the arena aloft $20.00 and started an upside move. It confused aloft the 23.6% Fib retracement akin of the aftermost abatement from the $22.90 aerial to $20.44 low. More importantly, there was a breach aloft a concise bearish trend band with attrition at $21.00.
The upside move was able as the amount confused aloft the $21.50 attrition and the 100 alternate simple affective average. It is currently trading abreast the 61.8% Fib retracement akin of the aftermost abatement from the $22.90 aerial to $20.44 low. A breach aloft the $22.40 and $22.50 attrition levels is bare for more gains. The abutting stop for buyers in the mentioned case could be $23.00. A acknowledged advance aloft the $23.00 akin may accessible the gates for a run appear the $25.00 level.
The chart indicates that the amount charcoal able-bodied accurate on the downside aloft $21.00. There is additionally a key abutting bullish trend band basic with abutment at $21.10 on the alternate blueprint of the ETC/USD pair. Therefore, if the amount corrects lower, it may conceivably acquisition bids abreast the 100 alternate SMA and $21.10.
Hourly MACD – The MACD for ETC/USD is aback in the bullish zone.
Hourly RSI – The RSI for ETC/USD is currently placed accurately aloft the 50 level.
Major Support Level – $21.10
Major Resistance Level – $22.50
