- Ethereum traditional worth managed to realize traction and moved above the $15.00 resistance in opposition to the US greenback.
- There’s a connecting bearish pattern line fashioned with resistance at $15.90 on the hourly chart of the ETC/USD pair (Information feed through Kraken).
- The pair is prone to break the $15.90 and $16.00 resistance ranges to maneuver within the bullish zone.
Ethereum traditional worth is gaining momentum in opposition to the US Greenback and Bitcoin. ETC/USD might maybe break the $16.00 resistance to proceed in direction of $18.00.
Ethereum Basic Value Pattern
After a serious decline under $15.00, ETC worth discovered assist above the $13.00 stage in opposition to the US greenback. The ETC/USD pair traded as little as $13.19 earlier than beginning an upward correction. It gained traction and moved above the $14.50 resistance. Furthermore, there was a break above the 23.6% Fib retracement stage of the final decline from the $17.88 excessive to $13.19 low.
The upside transfer was robust as the worth was capable of transfer above the $15.00 resistance and the 100 hourly easy transferring common. Nevertheless, the upside transfer was capped by the $16.00 resistance. The 61.8% Fib retracement stage of the final decline from the $17.88 excessive to $13.19 low additionally acted as a hurdle. Extra importantly, there’s a connecting bearish pattern line fashioned with resistance at $15.90 on the hourly chart of the ETC/USD pair. The pair is presently consolidating under the $15.90 and $16.00 resistance ranges. Ought to there be a break above $16.00, the worth might speed up good points above $17.00 within the close to time period.
The chart means that the worth might make an try and surpass the $16.00 barrier. If it fails to maneuver above $16.00, there could also be a bearish response in direction of $15.00. On the draw back, the $15.00 and $14.50 ranges are robust helps.
Hourly MACD – The MACD for ETC/USD is usually flat within the bullish zone.
Hourly RSI – The RSI for ETC/USD is presently positioned effectively above the 50 stage.
Main Assist Stage – $15.00
Main Resistance Stage – $16.00