Ethereum Classic / Euro may fall to 16.03 - 16.20

Our pivot point stands at 16.76.

Our preference

The downside prevails as long as 16.76 is resistance.

Alternative scenario

The upside breakout of 16.76, would call for 17.04 and 17.20.

Comment

The RSI is below its neutrality area at 50. 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 16.61 and 16.71).

Supports and resistances

17.20 **

17.04 *

16.76 **

16.65

16.54 last

16.20

16.03 **

15.87 *

15.70 **

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