THELOGICALINDIAN - Ethereum archetypal amount is now aback in a bearish area adjoin the US Dollar and Bitcoin ETCUSD is adverse a lot of resistances on the upside abreast 3400 and 3450
Ethereum Classic Price Resistances
A fresh downside wave was accomplished from able-bodied aloft $37.00 in ETC amount adjoin the US dollar. The amount beneath and traded beneath a brace of important abutment levels such as $35.00 and $34.00. It alike traded beneath the $33.25 abutment and acclimatized beneath the 100 alternate simple affective average. It traded as low as $31.36 and it is currently acclimation higher.
It is currently testing the 23.6% Fib retracement akin of the aftermost abatement from the $37.11 aerial to $31.36 low. On the upside, the burst abutment at $33.25 may act as a able resistance. Moreover, there is a above bearish trend band basic with attrition at $34.50 on the alternate blueprint of the ETC/USD pair. An average attrition is about the 50% Fib retracement akin of the aftermost abatement from the $37.11 aerial to $31.36 low at $34.28. Therefore, it seems like there are abounding barriers on the upside starting with $33.25. The best important hurdle is abreast $34.50, which won’t be accessible to breach in the abreast term.
On the downside, the contempo low of $31.36 is a concise support. A breach beneath the $31.30 akin could burn a downside acknowledgment appear the $30.00 level.
Hourly MACD – The MACD for ETC/USD is currently in the bearish zone.
Hourly RSI – The RSI for ETC/USD is now able-bodied beneath the 50 level.
Major Support Level – $31.30
Major Resistance Level – $34.50
Charts address – Trading View
