- Ethereum timeless cost remains in a bearish zone and is having a hard time to hold the $15 level versus the United States dollar.
- There is a vital bearish pattern line forming with resistance at $1650 on the per hour chart of the ETC/USD set (Information feed through Kraken).
- The set is under a great deal of pressure and it might even break the $1500 assistance level in the near term.
Ethereum timeless cost remains in a drop versus the United States Dollar and Bitcoin. ETC/USD stays at a threat of more losses as long as it is listed below $1650
Ethereum Classic Cost Resistance
There was a significant drawback relocation started in ETC cost from well above $1900 versus the United States dollar. The ETC/USD set decreased and broke the $1800 and $1650 assistance levels. It traded near to the $1500 level and formed a low at $1499 Later on, an upside correction was started and the cost moved above the 23.6% Fib retracement level of the last decrease from the $1835 high to $1499 low.
Nevertheless, the upside relocation was topped by the $1650-80 resistance location. Furthermore, the cost cannot move above the 50% Fib retracement level of the last decrease from the $1835 high to $1499 low. There is likewise a vital bearish pattern line forming with resistance at $1650 on the per hour chart of the ETC/USD set. The set is as soon as again moving lower and is presently well listed below $1650 If the cost cannot move above $1650, it might quickly break the $1500 assistance level for more losses.
The next significant assistance listed below $1500 is near the $1320 level. On the other side, if the cost is successful in breaking the $1650 resistance, it might return in a favorable zone towards $1800
Hourly MACD– The MACD for ETC/USD is a little in the bullish zone.
Hourly RSI– The RSI for ETC/USD is presently well listed below the 50 level.
Significant Assistance Level— $1500
Significant Resistance Level— $1650