ETHEREUM CLASSIC - ETC/USD - 1H - Technical analysis published on 08/28/2022 (GMT)
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- Timeframe : 1H
- - Analysis generated on
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
39%
44%
17%
My opinion
Bearish under 32.94 USD
My targets
31.67 USD (-3.21%)
28.36 USD (-13.33%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on ETHEREUM CLASSIC - ETC/USD as long as the price remains well below 32.94 USD. The sellers' bearish objective is set at 31.67 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 28.36 USD. In case of crossing, the next objective would be the support located at 24.38 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
5.9
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
ETHEREUM CLASSIC - ETC/USD rating 32.72 USD. On the day, this instrument lost -2.97% and was between 32.29 USD and 34.34 USD. This implies that the price is at +1.33% from its lowest and at -4.72% from its highest.32.29
34.34
32.72
The Central Gaps scanner detects the formation of a bearish gap marking the strong presence of sellers ahead of buyers at the opening. This formed a quotation gap.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
A technical analysis in 1H of this ETHEREUM CLASSIC - ETC/USD chart shows a sharp bearish trend. 89.29% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
On the 18 technical indicators analysed, 7 are bullish, 3 are neutral and 8 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
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 : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 19.09 | 24.38 | 31.67 | 32.72 | 32.94 | 34.53 | 36.35 |
| Change (%) | -41.66% | -25.49% | -3.21% | - | +0.67% | +5.53% | +11.09% |
| Change | -13.63 | -8.34 | -1.05 | - | +0.22 | +1.81 | +3.63 |
| Level | Minor | Intermediate | Intermediate | - | Major | Major | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 27.33 | 30.51 | 32.10 | 35.28 | 36.87 | 40.05 | 41.64 |
| Camarilla | 32.38 | 32.82 | 33.25 | 33.69 | 34.13 | 34.57 | 35.00 |
| Woodie | 26.54 | 30.11 | 31.31 | 34.88 | 36.08 | 39.65 | 40.85 |
| Fibonacci | 30.51 | 32.33 | 33.46 | 35.28 | 37.10 | 38.23 | 40.05 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 15.74 | 23.70 | 28.36 | 36.32 | 40.98 | 48.94 | 53.60 |
| Camarilla | 29.54 | 30.70 | 31.85 | 33.01 | 34.17 | 35.32 | 36.48 |
| Woodie | 14.08 | 22.88 | 26.70 | 35.50 | 39.32 | 48.12 | 51.94 |
| Fibonacci | 23.70 | 28.52 | 31.50 | 36.32 | 41.14 | 44.12 | 48.94 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -13.33 | 0.06 | 18.24 | 31.63 | 49.81 | 63.20 | 81.38 |
| Camarilla | 27.74 | 30.63 | 33.53 | 36.42 | 39.31 | 42.21 | 45.10 |
| Woodie | -10.94 | 1.26 | 20.64 | 32.83 | 52.21 | 64.40 | 83.78 |
| Fibonacci | 0.06 | 12.12 | 19.57 | 31.63 | 43.69 | 51.14 | 63.20 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 34.09 | |
| MACD (12,26,9): | -0.7900 | |
| Directional Movement: | -27.69 | |
| AROON (14): | -42.86 | |
| DEMA (21): | 32.70 | |
| Parabolic SAR (0,02-0,02-0,2): | 33.13 | |
| Elder Ray (13): | -0.76 | |
| Super Trend (3,10): | 33.83 | |
| Zig ZAG (10): | 32.72 | |
| VORTEX (21): | 0.7000 | |
| Stochastique (14,3,5): | 15.45 | |
| TEMA (21): | 32.35 | |
| Williams %R (14): | -79.02 | |
| Chande Momentum Oscillator (20): | -1.52 | |
| Repulse (5,40,3): | 1.5200 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.3100 | |
| Courbe Coppock: | 8.64 |
| MA7: | 34.28 | |
| MA20: | 37.45 | |
| MA50: | 31.19 | |
| MA100: | 24.79 | |
| MAexp7: | 32.88 | |
| MAexp20: | 33.71 | |
| MAexp50: | 34.73 | |
| MAexp100: | 35.65 | |
| Price / MA7: | -4.55% | |
| Price / MA20: | -12.63% | |
| Price / MA50: | +4.91% | |
| Price / MA100: | +31.99% | |
| Price / MAexp7: | -0.49% | |
| Price / MAexp20: | -2.94% | |
| Price / MAexp50: | -5.79% | |
| Price / MAexp100: | -8.22% |
Quotes :
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Real time data
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Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
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