Ethereum Classic / Dollar may rise to 24.52 - 24.86

Our pivot point is at 23.09.

Our preference

The upside prevails as long as 23.09 is support.

Alternative scenario

The downside breakout of 23.09 would call for 22.52 and 22.17.

Comment

The RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 23.05 and 22.94). Finally, the Ethereum Classic / Dollar is trading above its upper Bollinger band (standing at 23.62).

Supports and resistances

25.56 **

25.21 *

24.86 **

24.52

23.80 last

23.32

23.09 **

22.52 *

22.17 **

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