Ethereum Classic / Euro may fall to 15.76 - 17.98

Our pivot point stands at 25.35.

Our preference

The downside prevails as long as 25.35 is resistance.

Alternative scenario

The upside breakout of 25.35, would call for 29.08 and 31.30.

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 is trading under both its 20 and 50 period moving average (respectively at 25.18 and 25.84).

Supports and resistances

31.30 **

29.08 *

25.35 **

23.89

22.42 last

17.98

15.76 **

13.54 *

11.32 **

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