THELOGICALINDIAN - Ethereum archetypal amount is assertive to extend assets adjoin the US Dollar and Bitcoin ETCUSD is acceptable to move accomplished 1800 for a analysis of the 2024 handle
Ethereum Classic Price Trend
There was a bullish bias formed aloft the $15.00 akin in ETC amount adjoin the US dollar. The ETC/USD brace formed a solid abutment abject at $15.00 and started a key upside move. It traded college and austere a few important hurdles such as $16.00 and $16.50. Added importantly, there was a abutting aloft the $16.50 akin and the 100 alternate simple affective average, which austere the aisle for added gains.
As a result, the amount confused aloft the $17.00 attrition area. Later, there was breach aloft a above abutting attrition trend band at $17.40 on the alternate blueprint of the ETC/USD pair. The brace traded added college appear the $18.00 level. A aerial was formed at $17.97 afore the amount started a downside correction. It seems like the amount may activated the 23.6% Fib retracement akin of the aftermost upside beachcomber from the $15.03 low to $17.97 high. The $17.40 abutment is additionally abutting to the burst trend line. Therefore, the $17.40-50 breadth could act as a strong buy zone.
The chart indicates the accepted bullish trend aloft $16.50. As continued as the amount is aloft $16.50 and 100 SMA, it could barter to a new account aerial aloft $18.00. The abutting above barrier for buyers is abutting to $20.00.
Hourly MACD – The MACD for ETC/USD is boring abbreviation its bullish slope.
Hourly RSI – The RSI for ETC/USD is affective south appear the 50 level.
Major Support Level – $17.00
Major Resistance Level – $18.00
