ETC/USD has sharply declined on Friday, falling to 1.83 levels, before hitting a high of 2.09 levels. It currently trades at 1.88 levels at the time of writing (Kraken).

Ichimoku analysis of hourly chart:

Tenkan Sen: 1.97

Kijun Sen: 1.90

Trend reversal: 1.95 (90-hour EMA)

The pair has slipped below 90-hour EMA after hitting 2.09 levels. On the upside, it should break above this trend line (1.95 levels) for further upside. A consistent break above would take the pair to 2.09 levels (Aug 12 high) and then to 1.22 levels (200-hour MA).

On the reverse side, support is seen at 1.76 levels (61.8% retracement of 1.56 and 2.09 levels) and a break below would drag the pair to 1.56 levels/1.41 (July 31 low).