ETHEREUM CLASSIC - ETC/USD - Daily - Technical analysis published on 10/06/2021 (GMT)
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- 0
I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bearish
Technical indicators
56%
6%
39%
My opinion
Bearish under 59.47 USD
My targets
46.70 USD (-9.98%)
39.31 USD (-24.23%)
My analysis
There is a bearish trend on ETHEREUM CLASSIC - ETC/USD both at the basic level and in the short term. A sale could be considered, so long as the price remains below 59.47 USD. Each support break is a strong signal that the current trend will continue. The first bearish objective would be 46.70 USD. Then the price could move towards 39.31 USD. Then 29.21 USD by extension. Be careful, a return to above the resistance 59.47 USD would be a sign of a weakening of the trend and a possible rebound phase could then occur. In this case, you could keep away while waiting for a signal that the basic trend will resume. Trading against the trend is perhaps more risky.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
1.6
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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
The ETHEREUM CLASSIC - ETC/USD price is 51.88 USD. The price is lower by -4.53% since the last closing and was traded between 51.21 USD and 54.59 USD over the period. The price is currently at +1.31% from its lowest and -4.96% from its highest.51.21
54.59
51.88
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
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 Daily shows an overall bearish trend. 67.86% of the signals given by moving averages are bearish. This bearish trend is slowing down slightly given the slightly bearish signals given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : Daily
In fact, 10 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Daily
RSI indicator is back over 50
Type : Bullish
Timeframe : Daily
Aroon indicator bullish trend
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
Timeframe : Daily
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Bullish engulfing lines
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 17.00 | 29.21 | 39.31 | 51.88 | 59.47 | 74.96 | 84.41 |
| Change (%) | -67.23% | -43.70% | -24.23% | - | +14.63% | +44.49% | +62.70% |
| Change | -34.88 | -22.67 | -12.57 | - | +7.59 | +23.08 | +32.53 |
| Level | Minor | Minor | Major | - | Intermediate | Major | Minor |
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 | 50.20 | 51.26 | 52.80 | 53.86 | 55.40 | 56.46 | 58.00 |
| Camarilla | 53.63 | 53.86 | 54.10 | 54.34 | 54.58 | 54.82 | 55.06 |
| Woodie | 50.44 | 51.38 | 53.04 | 53.98 | 55.64 | 56.58 | 58.24 |
| Fibonacci | 51.26 | 52.25 | 52.87 | 53.86 | 54.85 | 55.47 | 56.46 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 35.85 | 40.07 | 46.70 | 50.92 | 57.55 | 61.77 | 68.40 |
| Camarilla | 50.36 | 51.35 | 52.35 | 53.34 | 54.34 | 55.33 | 56.32 |
| Woodie | 37.07 | 40.67 | 47.92 | 51.52 | 58.77 | 62.37 | 69.62 |
| Fibonacci | 40.07 | 44.21 | 46.77 | 50.92 | 55.06 | 57.62 | 61.77 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.06 | 23.17 | 35.12 | 56.23 | 68.18 | 89.29 | 101.24 |
| Camarilla | 37.98 | 41.01 | 44.04 | 47.07 | 50.10 | 53.13 | 56.16 |
| Woodie | -2.52 | 20.88 | 30.54 | 53.94 | 63.60 | 87.00 | 96.66 |
| Fibonacci | 23.17 | 35.80 | 43.60 | 56.23 | 68.86 | 76.66 | 89.29 |
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): | 48.13 | |
| MACD (12,26,9): | -1.4400 | |
| Directional Movement: | -5.60 | |
| AROON (14): | 42.86 | |
| DEMA (21): | 49.60 | |
| Parabolic SAR (0,02-0,02-0,2): | 46.05 | |
| Elder Ray (13): | 1.46 | |
| Super Trend (3,10): | 58.11 | |
| Zig ZAG (10): | 52.03 | |
| VORTEX (21): | 0.9400 | |
| Stochastique (14,3,5): | 79.85 | |
| TEMA (21): | 50.08 | |
| Williams %R (14): | -29.22 | |
| Chande Momentum Oscillator (20): | 4.28 | |
| Repulse (5,40,3): | -0.8700 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.7300 | |
| Courbe Coppock: | 2.72 |
| MA7: | 52.11 | |
| MA20: | 50.48 | |
| MA50: | 58.37 | |
| MA100: | 55.33 | |
| MAexp7: | 51.89 | |
| MAexp20: | 52.09 | |
| MAexp50: | 54.90 | |
| MAexp100: | 54.88 | |
| Price / MA7: | -0.44% | |
| Price / MA20: | +2.77% | |
| Price / MA50: | -11.12% | |
| Price / MA100: | -6.24% | |
| Price / MAexp7: | -0.02% | |
| Price / MAexp20: | -0.40% | |
| Price / MAexp50: | -5.50% | |
| Price / MAexp100: | -5.47% |
Quotes :
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Real time data
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