Ethereum Classic / Dollar may fall to 18.32 - 18.57

Our pivot point is at 19.59.

Our preference

The downside prevails as long as 19.59 is resistance.

Alternative scenario

Above 19.59, look for 20.02 and 20.28.

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 20.29 and 21.06).

Supports and resistances

20.28 **

20.02 *

19.59 **

19.42

19.24 last

18.57

18.32 **

18.06 *

17.81 **

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