Ethereum Classic / Dollar may rise to 21.80 - 22.08

20.81 is our pivot point.

Our preference

The upside prevails as long as 20.81 is support.

Alternative scenario

The downside breakout of 20.81 would call for 20.34 and 20.06.

Comment

The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 20.89 and 20.62).

Supports and resistances

22.65 **

22.37 *

22.08 **

21.80

21.23 last

21.00

20.81 **

20.34 *

20.06 **

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