Ethereum Classic / Dollar may rise to 26.30 - 26.71

Our pivot point stands at 24.93.

Our preference

Look for a drop towards 24.93 before a bounce.

Alternative scenario

The downside breakout of 24.93 would call for 24.24 and 23.83.

Comment

The RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is trading under its 20 period moving average (25.49) but above its 50 period moving average (25.44).

Supports and resistances

27.53 **

27.12 *

26.71 **

26.30

25.48 last

25.21

24.93 **

24.24 *

23.83 **

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