Ethereum Classic / Euro may fall to 25.53 - 26.00

Our pivot point is at 27.56.

Our preference

The downside prevails as long as 27.56 is resistance.

Alternative scenario

The upside breakout of 27.56, would call for 28.35 and 28.82.

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 27.18 and 27.21). Finally, the Ethereum Classic / Euro has penetrated its lower Bollinger band (26.95).

Supports and resistances

28.82 **

28.35 *

27.56 **

27.25

26.94 last

26.00

25.53 **

25.06 *

24.59 **

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