Ethereum Classic / Euro may rise to 17.15 - 17.32

Our pivot point stands at 16.59.

Our preference

The upside prevails as long as 16.59 is support.

Alternative scenario

Below 16.59, expect 16.30 and 16.13.

Comment

The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 16.72 and 16.64). Finally, the Ethereum Classic / Euro is trading above its upper Bollinger band (standing at 16.78).

Supports and resistances

17.66 **

17.49 *

17.32 **

17.15

16.81 last

16.70

16.59 **

16.30 *

16.13 **

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