ETHEREUM CLASSIC - ETC/USD - 1H - Technical analysis published on 01/31/2023 (GMT)
- 143
- 0
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
56%
22%
My opinion
Bearish under 21.70 USD
My targets
20.41 USD (-4.49%)
18.89 USD (-11.62%)
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 21.70 USD. The sellers' bearish objective is set at 20.41 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 18.89 USD. In case of crossing, the next objective would be the support located at 18.13 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, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
6.8
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 Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The ETHEREUM CLASSIC - ETC/USD price is 21.37 USD. The price registered a decrease of -6.23% on the session and was between 21.03 USD and 23.52 USD. This implies that the price is at +1.62% from its lowest and at -9.14% from its highest.21.03
23.52
21.37
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of ETHEREUM CLASSIC - ETC/USD indicates that the overall trend is strongly bearish. 89.29% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
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 support of channel
Type : Bullish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 13.71 | 18.13 | 20.41 | 21.37 | 21.70 | 22.27 | 22.88 |
| Change (%) | -35.84% | -15.16% | -4.49% | - | +1.54% | +4.21% | +7.07% |
| Change | -7.66 | -3.24 | -0.96 | - | +0.33 | +0.90 | +1.51 |
| Level | Major | Intermediate | Major | - | Intermediate | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 20.80 | 21.21 | 22.00 | 22.41 | 23.20 | 23.61 | 24.40 |
| Camarilla | 22.46 | 22.57 | 22.68 | 22.79 | 22.90 | 23.01 | 23.12 |
| Woodie | 20.99 | 21.31 | 22.19 | 22.51 | 23.39 | 23.71 | 24.59 |
| Fibonacci | 21.21 | 21.67 | 21.95 | 22.41 | 22.87 | 23.15 | 23.61 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 17.11 | 18.89 | 20.25 | 22.03 | 23.39 | 25.17 | 26.53 |
| Camarilla | 20.76 | 21.04 | 21.33 | 21.62 | 21.91 | 22.20 | 22.48 |
| Woodie | 16.91 | 18.79 | 20.05 | 21.93 | 23.19 | 25.07 | 26.33 |
| Fibonacci | 18.89 | 20.09 | 20.83 | 22.03 | 23.23 | 23.97 | 25.17 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.86 | 11.85 | 13.77 | 16.76 | 18.68 | 21.67 | 23.59 |
| Camarilla | 14.33 | 14.78 | 15.23 | 15.68 | 16.13 | 16.58 | 17.03 |
| Woodie | 8.32 | 11.58 | 13.23 | 16.49 | 18.14 | 21.40 | 23.05 |
| Fibonacci | 11.85 | 13.73 | 14.89 | 16.76 | 18.64 | 19.80 | 21.67 |
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): | 32.55 | |
| MACD (12,26,9): | -0.3200 | |
| Directional Movement: | -22.87 | |
| AROON (14): | -71.43 | |
| DEMA (21): | 21.42 | |
| Parabolic SAR (0,02-0,02-0,2): | 21.63 | |
| Elder Ray (13): | -0.31 | |
| Super Trend (3,10): | 21.85 | |
| Zig ZAG (10): | 21.34 | |
| VORTEX (21): | 0.6800 | |
| Stochastique (14,3,5): | 18.69 | |
| TEMA (21): | 21.14 | |
| Williams %R (14): | -72.28 | |
| Chande Momentum Oscillator (20): | -0.45 | |
| Repulse (5,40,3): | 0.4200 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1600 | |
| Courbe Coppock: | 8.72 |
| MA7: | 21.82 | |
| MA20: | 21.77 | |
| MA50: | 19.04 | |
| MA100: | 20.17 | |
| MAexp7: | 21.40 | |
| MAexp20: | 21.78 | |
| MAexp50: | 22.04 | |
| MAexp100: | 22.05 | |
| Price / MA7: | -2.06% | |
| Price / MA20: | -1.84% | |
| Price / MA50: | +12.24% | |
| Price / MA100: | +5.95% | |
| Price / MAexp7: | -0.14% | |
| Price / MAexp20: | -1.88% | |
| Price / MAexp50: | -3.04% | |
| Price / MAexp100: | -3.08% |
Quotes :
-
Real time data
-
Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis ETHEREUM CLASSIC - ETC/USD - 1H