Ethereum classic price is gradually moving lower against the US Dollar and Bitcoin. And so forth/USD could decrease further as long as it is beneath the $18.00-18.20 obstruction.
After a nice upside move, ETC price neglected to break the $18.80 and $19.00 obstruction levels against the US dollar. The ETC/USD match shaped a high close $19.00 and began a drawback move. There was another endeavor to clear a similar obstacle, however, the price fizzled and beat close $18.81. And so on price moved down and broke the $18.50 bolster zone. Besides, there was a nearby underneath the $18.00 turn level and the 100 hourly basic moving normally.
Furthermore, there was a break underneath a key bullish pattern line-shaped with help at $18.20 on the hourly graph of the ETC/USD match. The match is presently exchanging close to the $17.60 level with a prompt help at $17.40. Underneath the said bolster, the price could quicken decreases towards the $16.60 bolster zone. On the upside, an underlying opposition is close to the 23.6% Fib retracement level of the last decrease from the $18.81 high to $17.61 low. Be that as it may, the most essential obstacle is close to $18.20 and the 100 hourly SMA.
The diagram recommends that the price may maybe confront a solid opposition at $18.20. In the event that it neglects to recoup above $18.00 and $18.20, there is a danger of more misfortunes beneath the $17.60 level in the close term.
Hourly MACD – The MACD for ETC/USD is picking up the pace in the bearish zone.
Hourly RSI – The RSI for ETC/USD is presently close to the oversold levels.
Significant Support Level – $16.30
Significant Resistance Level – $18.20