Ethereum Classic / Dollar may rise to 25.04 - 25.38

23.91 is our pivot point.

Our preference

The upside prevails as long as 23.91 is support.

Alternative scenario

The downside breakout of 23.91 would call for 23.33 and 22.99.

Comment

The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (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 24.01 and 23.72). Finally, the Ethereum Classic / Dollar has crossed above its upper Bollinger band (24.28).

Supports and resistances

26.07 **

25.73 *

25.38 **

25.04

24.36 last

24.13

23.91 **

23.33 *

22.99 **

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