Ethereum Classic Definitive Price Benefit Hurdles
January 19, 2018 8:47 am,
Ethereum Classic typical price improved lately after a main failure against the US Dollar and Bitcoin. ETC/USD is correcting higher, but it is discovery offers around $32.00.
There were incessant failures in ETC price as it progressed below the $30.00 support against the US dollar. The price even broke the $25.00 support and operated toward the $22.00 level. A low was made at $22.05 from where a positive correction was started. It has progressed above the 23.6% Fib retracement level of the last decline from the $47.29 high to $22.05 low.
Though, there are several conflicts on the upside starting with $31.60. The 38.2% Fib retracement level of the last decline from the $47.29 high to $22.05 low is at $31.60 to avoid upsides. Furthermore, there is a decisive bearish trend line starting with resistance at $34.00 on the hourly chart of the ETC/USD pair. Beyond the trend line resistance, the 100 hourly modest moving average is around $36.00. A transitional resistance is the 50% Fib retracement level of the last decline from the $47.29 high to $22.05 low.
Consequently, there are strong hurdles near $32.00 and $34.00. It won’t be informal for buyers to disrupt both levels and transfer above $35.00 in the near term. On the shortcoming, a primary support is at $25.00, tracked by the last swing low of $22.00.
The MACD for ETC/USD is gradually moving back in the bearish zone.
The RSI for ETC/USD is touching down towards the 50 level.
Major Support Level
Major Resistance Level