Ethereum Classic / Euro may rise to 18.30 - 18.49

17.70 is our pivot point.

Our preference

As long as 17.70 is support look for 18.49.

Alternative scenario

The downside breakout of 17.70 would call for 17.40 and 17.22.

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 below its signal line and positive. The price could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 17.82 and 17.51).

Supports and resistances

18.85 **

18.67 *

18.49 **

18.30

17.94 last

17.82

17.70 **

17.40 *

17.22 **

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