Ethereum Classic / Euro may rise to 18.24 - 18.47

Our pivot point stands at 17.43.

Our preference

Rebound towards 18.47.

Alternative scenario

Below 17.43, expect 17.04 and 16.80.

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 above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 17.89 and 17.95). Finally, the Ethereum Classic / Euro is trading below its lower Bollinger band (standing at 17.76).

Supports and resistances

18.94 **

18.71 *

18.47 **

18.24

17.74 last

17.59

17.43 **

17.04 *

16.80 **

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