ETHEREUM CLASSIC - ETC/USD

- USD (-)

- Real time data - CoinMarketCap

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Type:	Cryptocurrencies
Ticker:	ETCUSD
ISIN:

ETHEREUM CLASSIC - ETC/USD - Daily - Technical analysis published on 08/09/2020 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Court terme: Strongly bullish

De fond: Strongly bullish

Technical indicators

11%

44%

My opinion

Bullish above 6.05 USD

My targets

7.45 USD (+6.73%)

8.88 USD (+27.22%)

My analysis

All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on ETHEREUM CLASSIC - ETC/USD as long as the price remains well above 6.05 USD. The buyers” bullish objective is set at 7.45 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 8.88 USD. If there is any crossing, the next objective would be the resistance located at 9.82 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

In the very short term, the general bullish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bullish direction is still favored, however the current short term bearish correction should be carefully watched.

Force

4.6

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by AKOUSA. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

ETHEREUM CLASSIC - ETC/USD rating 6.98 USD. The price has increased by +1.45% since the last closing with the lowest point at 6.91 USD and the highest point at 7.01 USD. The deviation from the price is +1.01% for the low point and -0.43% for the high point.

6.91

7.01

6.98

The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bullish opening

Type : Bullish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by ETHEREUM CLASSIC - ETC/USD:

Technical

Technical analysis of ETHEREUM CLASSIC - ETC/USD in Daily shows a strongly overall bullish trend. 89.29% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

In fact, according to the parameters integrated into the Central Analyzer system, only 8 technical indicators out of 18 analysed are currently bearish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Daily

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

Momentum indicator is back under 0

Type : Bearish

Timeframe : Daily

The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:

Near support of triangle

Type : Bullish

Timeframe : Daily

Support of channel is broken

Type : Bearish

Timeframe : Daily

No result was found by the Central Candlesticks scanner on Japanese candlesticks.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	3.60	5.17	6.05	6.98	7.45	8.88	9.82
Change (%)	-48.42%	-25.93%	-13.32%	-	+6.73%	+27.22%	+40.69%
Change	-3.38	-1.81	-0.93	-	+0.47	+1.90	+2.84
Level	Major	Minor	Major	-	Major	Minor	Minor

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	6.61	6.70	6.79	6.88	6.97	7.06	7.15
Camarilla	6.83	6.85	6.86	6.88	6.90	6.91	6.93
Woodie	6.61	6.70	6.79	6.88	6.97	7.06	7.15
Fibonacci	6.70	6.77	6.81	6.88	6.95	6.99	7.06

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	4.59	5.62	6.25	7.28	7.91	8.94	9.57
Camarilla	6.42	6.58	6.73	6.88	7.03	7.18	7.34
Woodie	4.39	5.52	6.05	7.18	7.71	8.84	9.37
Fibonacci	5.62	6.25	6.65	7.28	7.91	8.31	8.94

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	3.98	4.75	6.04	6.81	8.10	8.87	10.16
Camarilla	6.77	6.96	7.15	7.34	7.53	7.72	7.91
Woodie	4.25	4.88	6.31	6.94	8.37	9.00	10.43
Fibonacci	4.75	5.53	6.02	6.81	7.59	8.08	8.87

Numerical data

The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:

Technical indicators

Moving averages

RSI (14):	54.09
MACD (12,26,9):	0.1800
Directional Movement:	-1.85
AROON (14):	50.00
DEMA (21):	7.20
Parabolic SAR (0,02-0,02-0,2):	8.10
Elder Ray (13):	-0.07
Super Trend (3,10):	6.50
Zig ZAG (10):	7.01
VORTEX (21):	1.1000
Stochastique (14,3,5):	24.45
TEMA (21):	7.24
Williams %R (14):	-78.31
Chande Momentum Oscillator (20):	-0.24
Repulse (5,40,3):	-0.0900
ROCnROLL:	-1
TRIX (15,9):	0.5400
Courbe Coppock:	14.92

MA7:	7.07
MA20:	6.97
MA50:	6.45
MA100:	6.57
MAexp7:	7.05
MAexp20:	6.94
MAexp50:	6.67
MAexp100:	6.55
Price / MA7:	-1.27%
Price / MA20:	+0.14%
Price / MA50:	+8.22%
Price / MA100:	+6.24%
Price / MAexp7:	-0.99%
Price / MAexp20:	+0.58%
Price / MAexp50:	+4.65%
Price / MAexp100:	+6.56%

Quotes : 2020-08-09 00:50:32 - Real time data - Cryptocompare

This member declared not having a position on this financial instrument or a related financial instrument.

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