Ethereum Classic / Dollar may fall to 17.63 - 17.88

Our pivot point stands at 18.72.

Our preference

The downside prevails as long as 18.72 is resistance.

Alternative scenario

The upside breakout of 18.72, would call for 19.13 and 19.38.

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 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 18.80 and 18.80).

Supports and resistances

19.38 **

19.13 *

18.72 **

18.55

18.38 last

17.88

17.63 **

17.38 *

17.14 **

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