THELOGICALINDIAN - Ethereum archetypal amount confused acutely adjoin the US Dollar and Bitcoin ETCUSD is now trading able-bodied beneath 1800 and it charcoal at a accident of added losses
Ethereum Classic Price Decline
There was no upside move aloft $21.00 during the accomplished few canicule in ETC amount adjoin the US dollar. The amount started a downside move and traded beneath the $20.00 handle. The downside move was able as the amount alike bootless to authority the $18.00 abutment level. It is now trading able-bodied beneath the $18.00 axis akin and the 100 alternate simple affective average.
The contempo low was formed at $15.66 and it seems like sellers are actuality to stay. If there is a correction, the amount may face sellers abreast the 23.6% Fib retracement akin of the aftermost abatement from the $21.73 aerial to $15.66 low. There is additionally a key abutting bearish trend band basic with attrition at $18.00 on the alternate blueprint of the ETC/USD pair. The aforementioned trend band is abreast the 38.2% Fib retracement akin of the aftermost abatement from the $21.73 aerial to $15.66 low. Therefore, the $17.00 and $18.00 levels are apparent as crucial barriers for buyers in the abreast term.
On the downside, the amount could breach the contempo low of $15.66 and analysis $15.00. The all-embracing bent is bearish on BTC, ETH, XRP and all above cryptocurrencies.
Hourly MACD – The MACD for ETC/USD is not assuming any signs of a recovery.
Hourly RSI – The RSI for ETC/USD is boring ascent from the oversold levels.
Major Support Level – $15.00
Major Resistance Level – $18.00
Charts address – Trading View
