Ethereum Classic / Euro may fall to 26.64 - 27.16

Our pivot point stands at 29.06.

Our preference

The downside prevails as long as 29.06 is resistance.

Alternative scenario

The upside breakout of 29.06, would call for 29.95 and 30.47.

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 is trading under both its 20 and 50 period moving average (respectively at 29.01 and 29.32). Finally, the Ethereum Classic / Euro is trading below its lower Bollinger band (standing at 28.24).

Supports and resistances

30.47 **

29.95 *

29.06 **

28.71

28.21 last

27.16

26.64 **

26.11 *

25.59 **

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