ETHEREUM CLASSIC - ETC/USD - 1H - Technical analysis published on 05/12/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
67%
22%
My opinion
Bearish under 109.11 USD
My targets
91.25 USD (-15.23%)
89.61 USD (-16.75%)
My analysis
The bearish trend is currently very strong for ETHEREUM CLASSIC - ETC/USD. As long as the price remains below the resistance at 109.11 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 91.25 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 89.61 USD as an objective. Crossing it would then enable sellers to target 72.67 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
7.5
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
ETHEREUM CLASSIC - ETC/USD rating 107.64 USD. On the day, this instrument lost -4.83% and was between 105.19 USD and 116.59 USD. This implies that the price is at +2.33% from its lowest and at -7.68% from its highest.105.19
116.59
107.64
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by ETHEREUM CLASSIC - ETC/USD:
Technical
Technical analysis of this 1H chart of ETHEREUM CLASSIC - ETC/USD indicates that the overall trend is strongly bearish. The signals given by moving averages are 89.29% bearish. This strong bearish trend is confirmed by the strong signals currently being given by 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, 12 technical indicators out of 18 analysed are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Ichimoku : price is under the cloud
Type : Bearish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish harami
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 54.77 | 72.67 | 91.25 | 107.64 | 109.11 | 133.96 | 175.30 |
| Change (%) | -49.12% | -32.49% | -15.23% | - | +1.37% | +24.45% | +62.86% |
| Change | -52.87 | -34.97 | -16.39 | - | +1.47 | +26.32 | +67.66 |
| Level | Minor | Minor | Intermediate | - | Major | Major | Intermediate |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 89.07 | 96.03 | 104.57 | 111.53 | 120.07 | 127.03 | 135.57 |
| Camarilla | 108.84 | 110.26 | 111.68 | 113.10 | 114.52 | 115.94 | 117.36 |
| Woodie | 89.85 | 96.43 | 105.35 | 111.93 | 120.85 | 127.43 | 136.35 |
| Fibonacci | 96.03 | 101.95 | 105.61 | 111.53 | 117.45 | 121.11 | 127.03 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -78.06 | -18.01 | 55.19 | 115.24 | 188.44 | 248.49 | 321.69 |
| Camarilla | 91.74 | 103.95 | 116.17 | 128.38 | 140.60 | 152.81 | 165.02 |
| Woodie | -71.50 | -14.72 | 61.76 | 118.53 | 195.01 | 251.78 | 328.26 |
| Fibonacci | -18.01 | 32.90 | 64.34 | 115.24 | 166.15 | 197.59 | 248.49 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -19.98 | -3.30 | 16.55 | 33.23 | 53.08 | 69.76 | 89.61 |
| Camarilla | 26.35 | 29.70 | 33.05 | 36.40 | 39.75 | 43.10 | 46.45 |
| Woodie | -18.40 | -2.51 | 18.14 | 34.02 | 54.67 | 70.55 | 91.20 |
| Fibonacci | -3.30 | 10.65 | 19.28 | 33.23 | 47.18 | 55.81 | 69.76 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 41.78 | |
| MACD (12,26,9): | -0.9700 | |
| Directional Movement: | -9.55 | |
| AROON (14): | -50.00 | |
| DEMA (21): | 109.41 | |
| Parabolic SAR (0,02-0,02-0,2): | 117.72 | |
| Elder Ray (13): | -2.50 | |
| Super Trend (3,10): | 115.50 | |
| Zig ZAG (10): | 106.68 | |
| VORTEX (21): | 0.9100 | |
| Stochastique (14,3,5): | 24.47 | |
| TEMA (21): | 109.07 | |
| Williams %R (14): | -86.23 | |
| Chande Momentum Oscillator (20): | -5.21 | |
| Repulse (5,40,3): | -3.1400 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 6.63 |
| MA7: | 118.33 | |
| MA20: | 69.93 | |
| MA50: | 40.50 | |
| MA100: | 26.21 | |
| MAexp7: | 108.95 | |
| MAexp20: | 110.19 | |
| MAexp50: | 111.91 | |
| MAexp100: | 112.62 | |
| Price / MA7: | -9.03% | |
| Price / MA20: | +53.93% | |
| Price / MA50: | +165.78% | |
| Price / MA100: | +310.68% | |
| Price / MAexp7: | -1.20% | |
| Price / MAexp20: | -2.31% | |
| Price / MAexp50: | -3.82% | |
| Price / MAexp100: | -4.42% |
Quotes :
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Real time data
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