Ethereum Classic / Euro may fall to 20.73 - 21.02

Our pivot point stands at 22.00.

Our preference

The downside prevails as long as 22 is resistance.

Alternative scenario

Above 22, look for 22.49 and 22.79.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 21.81 and 21.90).

Supports and resistances

22.79 **

22.49 *

22.00 **

21.80

21.61 last

21.02

20.73 **

20.43 *

20.14 **

Number of asterisks represents the strength of support and resistance levels.