Ethereum Classic / Dollar may fall to 18.56 - 18.76

Our pivot point stands at 19.40.

Our preference

The downside prevails as long as 19.40 is resistance.

Alternative scenario

The upside breakout of 19.40, would call for 19.72 and 19.91.

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 stands below its 20 and 50 period moving average (respectively at 19.39 and 19.52). Finally, the Ethereum Classic / Dollar is trading below its lower Bollinger band (standing at 19.22).

Supports and resistances

19.91 **

19.72 *

19.40 **

19.27

19.14 last

18.76

18.56 **

18.37 *

18.18 **

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