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Key Key Aspects
- The classic price of Ethereum dropped from the low of $ 13.50 and broke $ 13.00 compared to the US dollar
- There was a pause below a important uptrend line with support at $ 12.60 on the hourly chart of the ETC / USD pair (data feed via Kraken).
- The pair fell below the $ 12.00 support and stood at $ 11.89 before finding support.
The classic price of Ethereum fell below important supports against the US dollar and Bitcoin. ETC / USD has found support below $ 12.00 and is currently consolidating losses.
Ethereum Classic Price Support
There was a refusal above the $ 13.40 level in the ETC price compared to the US dollar. The ETC / USD pair declined sharply and broke support levels $ 13.00 and $ 12.80. The decline was such that the price broke the $ 12.50 support and stabilized below the simple 100-hour moving average. Also, there was a peak below the $ 12.00 level and trading at $ 11.89.
In addition, there was a break below an uptrend line with support of $ 12.60 on the hourly chart of the ETC / USD pair. The pair found support near the $ 11.90 level and is currently consolidating losses. The price tested the Fib retracement level of 23.6% from the last decline, from $ 13.49 upwards to $ 11.89 below. However, the positives were limited near the $ 12.40 level. Above this, the next major obstacle is close to the $ 12.70 level, which is close to the simple 100-hour moving average. Even the 50% fiber retracement level of the last decline from $ 13.49 up to $ 11.89 down is close to $ 12.70. Therefore, increases are likely to be limited to $ 12.70 and $ 12.8 levels.
The chart suggests that the price of ETC must remain above the $ 11.80 level to avoid further slides. Below this, the price may perhaps return to the level of $ 11.50
MACD schedule – The MACD for ETC / USD is back in the bearish zone.
RSI timetable – The RSI for ETC / USD is now well below the level 40.
Main support level – $ 11.80 [19659008] Main resistance level – $ 12.80
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