Ethereum Classic / Euro may fall to 22.21 - 22.58

23.81 is our pivot point.

Our preference

The downside prevails as long as 23.81 is resistance.

Alternative scenario

The upside breakout of 23.81, would call for 24.42 and 24.79.

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 negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 23.62 and 23.71).

Supports and resistances

24.79 **

24.42 *

23.81 **

23.56

23.32 last

22.58

22.21 **

21.85 *

21.48 **

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