Ethereum Classic / Dollar may fall to 23.18 - 23.57

Our pivot point is at 24.88.

Our preference

The downside prevails as long as 24.88 is resistance.

Alternative scenario

Above 24.88, look for 25.54 and 25.93.

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 negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 24.99 and 25.27).

Supports and resistances

25.93 **

25.54 *

24.88 **

24.62

24.36 last

23.57

23.18 **

22.79 *

22.39 **

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