Ethereum Classic / Dollar may fall to 20.53 - 20.81

Our pivot point stands at 22.14.

Our preference

The downside prevails as long as 22.14 is resistance.

Alternative scenario

Above 22.14, look for 22.63 and 22.92.

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 negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 22.43 and 22.60). Finally, the Ethereum Classic / Dollar has penetrated its lower Bollinger band (21.91).

Supports and resistances

22.92 **

22.63 *

22.14 **

21.95

21.66 last

20.81

20.53 **

20.24 *

19.96 **

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