Ethereum Classic / Dollar may fall to 25.35 - 25.82

Our pivot point is at 27.48.

Our preference

The downside prevails as long as 27.48 is resistance.

Alternative scenario

The upside breakout of 27.48, would call for 28.28 and 28.75.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (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 28.60 and 28.88).

Supports and resistances

28.75 **

28.28 *

27.48 **

27.16

26.83 last

25.82

25.35 **

24.87 *

24.40 **

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