THELOGICALINDIAN - Ethereum archetypal amount beneath and confused in a bearish area adjoin the US Dollar and Bitcoin ETCUSD may abide to move bottomward appear the 1300 support
Ethereum Classic Price Trend
Earlier this week, there was an upside move aloft the $14.00 akin in ETC amount adjoin the US dollar. The ETC/USD brace succeeded in trading aloft the $14.20 attrition and activated $14.50. A aerial was formed at $14.51 afore the amount started a downside move. It beneath and traded beneath the $14.20 abutment and the $14.00 handle to move in a bearish zone.
Furthermore, there was a breach beneath a above bullish trend band with abutment at $13.90 on the alternate blueprint of the ETC/USD pair. The brace additionally traded beneath the $13.50 akin and traded beneath the 100 alternate simple affective average. A low was formed at $13.27 afore the amount adapted appear the 23.6% Fib retracement akin of the aftermost abatement from the $14.51 aerial to $13.27 low. However, the upside move was capped by the $13.50 akin and the 100 alternate SMA. It seems like as continued as the amount is beneath 100 SMA, it could decline further appear the abutting above abutment at $13.00.
On the upside, a advance aloft $13.50 and 100 alternate SMA is bare for a trend change. Aloft 100 SMA, the abutting hurdle for buyers are at $14.00 and $14.50.
Hourly MACD – The MACD for ETC/USD is about to move aback in the bearish zone.
Hourly RSI – The RSI for ETC/USD is affective lower appear the 30 level.
Major Support Level – $13.00
Major Resistance Level – $14.00
Charts address – Trading View
