Ethereum Classic / Euro may fall to 15.72 - 15.94

Our pivot point stands at 16.67.

Our preference

The downside prevails as long as 16.67 is resistance.

Alternative scenario

The upside breakout of 16.67, would call for 17.04 and 17.26.

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 16.72 and 17.09).

Supports and resistances

17.26 **

17.04 *

16.67 **

16.53

16.38 last

15.94

15.72 **

15.50 *

15.28 **

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