Ethereum Classic / Dollar may rise to 20.14 - 20.39

19.29 is our pivot point.

Our preference

The upside prevails as long as 19.29 is support.

Alternative scenario

The downside breakout of 19.29 would call for 18.86 and 18.61.

Comment

The RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (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 19.50 and 19.49).

Supports and resistances

20.90 **

20.65 *

20.39 **

20.14

19.63 last

19.46

19.29 **

18.86 *

18.61 **

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