Ethereum Classic / Dollar may rise to 22.49 - 22.82

21.43 is our pivot point.

Our preference

Rebound towards 22.82.

Alternative scenario

The downside breakout of 21.43 would call for 20.89 and 20.57.

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 negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 22.03 and 22.59).

Supports and resistances

23.46 **

23.14 *

22.82 **

22.49

21.85 last

21.64

21.43 **

20.89 *

20.57 **

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