Ethereum Classic / Euro may fall to 19.11 - 19.37

Our pivot point stands at 20.26.

Our preference

The downside prevails as long as 20.26 is resistance.

Alternative scenario

The upside breakout of 20.26, would call for 20.70 and 20.96.

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 stands below its 20 and 50 period moving average (respectively at 20.38 and 20.70).

Supports and resistances

20.96 **

20.70 *

20.26 **

20.09

19.89 last

19.37

19.11 **

18.85 *

18.59 **

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