ETHEREUM CLASSIC - ETC/USD
ETHEREUM CLASSIC - ETC/USD
- USD (-)
- Real time data - Cryptocompare
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Change: -
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Type: Cryptocurrencies
Ticker: ETCUSD
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ETHEREUM CLASSIC - ETC/USD - 1H - Technical analysis published on 08/02/2021 (GMT)

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  • Timeframe : 1H
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Summary of the analysis

Trends
Short term: Bullish
Underlying: Bullish
Technical indicators
56%
6%
39%
My opinion
Bullish above 51.11 USD
My targets
53.99 USD (+4.25%)
55.98 USD (+8.09%)
My analysis
All elements being rather bullish, it would be possible for traders to only trade long positions (at the time of purchase) on ETHEREUM CLASSIC - ETC/USD as long as the price remains well above 51.11 USD. The buyers' bullish objective is set at 53.99 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 55.98 USD. If there is any crossing, the next objective would be the resistance located at 57.59 USD. Be careful, the short term currently seems to be losing momentum. Its reversal would lead to mitigation of the, bullish, basic trend. If you have another key point closer to the current price, it would be better to only trade long positions (at the time of purchase) above that key point.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
5.2

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 Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

Additional analysis

Quotes

The ETHEREUM CLASSIC - ETC/USD rating is 51.79 USD. The price has increased by +2.82% since the last closing with the lowest point at 49.41 USD and the highest point at 52.17 USD. The deviation from the price is +4.82% for the low point and -0.73% for the high point.

49.41
52.17
51.79

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.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



A study of price movements over other periods shows the following variations:

Technical


Technical analysis of ETHEREUM CLASSIC - ETC/USD in 1H shows an overall bullish trend. The signals given by moving averages are 75.00% bullish. This bullish trend is slowing down slightly given the slightly bullish signals of short-term moving averages. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:

Central Indicators

Bearish price crossover with Moving Average 20

Type : Bearish

Timeframe : 1 hour


Bearish price crossover with Moving Average 50

Type : Bearish

Timeframe : 1 hour


Bearish price crossover with adaptative moving average 20

Type : Bearish

Timeframe : 1 hour



In fact, according to the parameters integrated into the Central Analyzer system, 10 technical indicators out of 18 analysed are currently bullish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Central Indicators

RSI indicator is back over 50

Type : Bullish

Timeframe : 1 hour


RSI indicator is back under 50

Type : Bearish

Timeframe : 1 hour


Price is back over the pivot point

Type : Bullish

Timeframe : Weekly


Williams %R indicator is back under -50

Type : Bearish

Timeframe : 1 hour



An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:

Central Patterns

Near horizontal resistance

Type : Bearish

Timeframe : 1 hour


Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour



For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:

Central Candlesticks

Bearish engulfing lines

Type : Bearish

Timeframe : 1 hour




ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 46.21 47.99 51.58 51.79 53.99 55.98 57.59
Change (%) -10.77% -7.34% -0.41% - +4.25% +8.09% +11.20%
Change -5.58 -3.80 -0.21 - +2.20 +4.19 +5.80
Level Intermediate Intermediate Major - Minor Minor 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
Standard43.8046.6148.4951.3053.1855.9957.87
Camarilla49.0849.5149.9450.3750.8051.2351.66
Woodie43.3446.3848.0351.0752.7255.7657.41
Fibonacci46.6148.4049.5151.3053.0954.2055.99


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard36.2741.1546.2351.1156.1961.0766.15
Camarilla48.5849.4950.4151.3252.2353.1554.06
Woodie36.3841.2046.3451.1656.3061.1266.26
Fibonacci41.1544.9547.3051.1154.9157.2661.07


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard18.7428.2739.8049.3360.8670.3981.92
Camarilla45.5347.4649.3951.3253.2555.1857.11
Woodie19.7328.7740.7949.8361.8570.8982.91
Fibonacci28.2736.3241.2949.3357.3862.3570.39

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): 49.03
MACD (12,26,9): -0.0400
Directional Movement: -8.18
AROON (14): 50.00
DEMA (21): 51.34
Parabolic SAR (0,02-0,02-0,2): 49.57
Elder Ray (13): -0.09
Super Trend (3,10): 52.85
Zig ZAG (10): 51.48
VORTEX (21): 0.9900
Stochastique (14,3,5): 76.21
TEMA (21): 51.32
Williams %R (14): -24.64
Chande Momentum Oscillator (20): 1.24
Repulse (5,40,3): 0.7300
ROCnROLL: 1
TRIX (15,9): -0.0400
Courbe Coppock: 1.83
MA7: 50.36
MA20: 46.23
MA50: 48.42
MA100: 59.83
MAexp7: 51.61
MAexp20: 51.39
MAexp50: 51.32
MAexp100: 50.81
Price / MA7: +2.84%
Price / MA20: +12.03%
Price / MA50: +6.96%
Price / MA100: -13.44%
Price / MAexp7: +0.35%
Price / MAexp20: +0.78%
Price / MAexp50: +0.92%
Price / MAexp100: +1.93%

Quotes : - Real time data - Cryptocompare

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

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