[ad_1]
Key Points
- The classic price of Ethereum has formed a support base near $ 12.00 and has moved higher than the US dollar
- C & # 39; has been a break over a triangle contractor with resistance to $ 12.58 on the hourly chart of the ETC / USD pair (Data feed via Kraken).
- The pair has moved into a bullish zone and may continue to move higher towards $ 13.00 and $ 13.50.
The classic price of Ethereum is gaining ground against the US dollar and Bitcoin. ETC / USD is positioned well above $ 12.50 for further gains in the short term.
Support for the classic price of Ethereum
After trading starting at $ 11.88, the ETC price started an upward move against the US dollar. The ETC / USD pair has exceeded the resistance levels $ 12.00 and $ 12.20. The price was traded above the Fib retracement level at 23.6% on the last slide, from $ 13.47 upwards to $ 11.88 below. However, the upward move was limited by the $ 12.70 level and the price fell to the $ 12.00-12.20 support.
Next, the price formed a support base near $ 12.00 and moved higher. It has exceeded the resistance of $ 12.50 and the 100-hour moving average. Furthermore, there was a breach over a contracting triangle with a resistance of $ 12.58 on the hourly chart of the ETC / USD pair. The pair is currently trading close to the Fib 50% retracement level of the last slide from $ 13.47 up to $ 11.88 down. Once there is an appropriate closing above $ 12.75 and $ 12.80, the price should accelerate above the $ 13.00 level. If ETC buyers take control, the price could break resistance at $ 13.10 and revise the zone $ 13.40.
The graph suggests that the price of the ETC could reduce some points, but the broken triangle near $ 12.60 will probably suffer a decline . Below this, the next major support is close to $ 12.50 and 100 SMA per hour.
MACD timetable – The MACD for ETC / USD is positioned well in the bullish zone.
RNA timetable – The RSI for ETC / USD is now well above the 50 level.
Main support level – $ 12.50 [19659008] Main resistance level – $ 13.00
Source link
