[ad_1]
Key Points
- The classic price of Ethereum has risen higher and has broken resistance from $ 16.00 and $ 18.00 against the US dollar.
- C & # 39; is an uptrend line formed with support at $ 18.20 on the hourly chart of the ETC / USD pair (Data feed via Kraken).
- The pair may correct some points, but the dives remain supported near the $ 18.40 and $ 18.20 levels.
The classic price of Ethereum rose higher than the US dollar and Bitcoin. ETC / USD is positioned in a bullish zone above the $ 18.00 pivot level.
Classical Ethereum price trend
Strong support base formed near the $ 14.50 level in the ETC price against the US dollar. The ETC / USD pair gained bullish momentum above $ 15.00 after Coinbase's listing. The price has risen higher and has broken many resistors like $ 16.00, $ 17.00 and $ 18.00. There was also a break above the $ 20.00 handle and a maximum was formed at $ 21.02.
Next, the price was corrected lower and traded below the $ 20.00 level. There was a break below the fiber retracement level of 23.6% of the last wave, from $ 15.78 down to $ 21.02 at the top. However, there are many supports on the negative side above the $ 18.00 level. More importantly, there is an uptrend line formed with support for $ 18.20 on the hourly chart of the ETC / USD pair. The support of the trend line coincides with the 50% fiber retracement level of the last wave, from $ 15.78 down to $ 21.02 at the top. Therefore, if the price corrects lower than current levels, it may find offers near the levels of $ 18.40 and $ 18.20.
The chart suggests that the price of ETCs well in a bullish zone above $ 18.00. Once the current fix is over, it might make another attempt to pass the $ 20.00 level. Subsequent resistances above $ 20.00 are close to $ 21.00 and $ 21.80.
MACD timetable – The MACD for ETC / USD is positioned well in the bullish zone.
RSI timetable – The RSI for ETC / USD is well above the 50 level.
Main support level – $ 18.20
Main resistance level – $ 20.00
Source link
