Ethereum Classic / Euro may fall to 19.10 - 19.36

Our pivot point is at 20.53.

Our preference

The downside prevails as long as 20.53 is resistance.

Alternative scenario

Above 20.53, look for 20.97 and 21.24.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (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 20.79 and 20.98). Finally, the Ethereum Classic / Euro has penetrated its lower Bollinger band (20.34).

Supports and resistances

21.24 **

20.97 *

20.53 **

20.36

20.16 last

19.36

19.10 **

18.84 *

18.58 **

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