Ethereum Classic / Euro may fall to 14.90 - 15.12

Our pivot point stands at 15.87.

Our preference

The downside prevails as long as 15.87 is resistance.

Alternative scenario

Above 15.87, look for 16.24 and 16.47.

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 17.10 and 17.60).

Supports and resistances

16.47 **

16.24 *

15.87 **

15.72

15.57 last

15.12

14.90 **

14.67 *

14.45 **

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