Ethereum Classic / Dollar may fall to 25.34 - 25.81

Our pivot point is at 27.38.

Our preference

The downside prevails as long as 27.38 is resistance.

Alternative scenario

Above 27.38, look for 28.18 and 28.65.

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 26.90 and 26.93). Finally, the Ethereum Classic / Dollar is trading below its lower Bollinger band (standing at 26.79).

Supports and resistances

28.65 **

28.18 *

27.38 **

27.07

26.76 last

25.81

25.34 **

24.86 *

24.39 **

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