Ethereum Classic Price Resistance
There were decent gains in the ETC award above $ 30.00 against the US dollar. The price was traded as high as $ 33.41, from which a downside wave was initiated. It moved below 23.6% Fib retracement level of the last wave from $ 26.00 low to $ 33.41 high. The drawback is moved out under the support area for $ 31.00, which ignites additional shoppers.
During the downside movement, there was a break below an important bullish line of draw with $ 30.30 on the timetable for the ETC / USD pair. The pair currently tests the support of $ 29.60 and the 100-hour simple moving average. In addition, the 50% Fib retracement level of the last wave works from $ 26.00 low to $ 33.41 high also as a support. However, the couple is now under $ 30.80, and $ 30.20 supports, which means there is a risk of multiple falls.
On the backside there is a connecting bearish trend line that produces resistance of $ 30.20. A break over the trend line and $ 30.50 is required to avoid further drops. Over $ 30.50, the price could recover $ 33.00 swing high in the short term.
