ETHEREUM CLASSIC - ETC/USD - 1H - Technical analysis published on 02/21/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
11%
50%
39%
My opinion
Bullish above 22.81 USD
My targets
23.68 USD (+2.33%)
24.31 USD (+5.06%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on ETHEREUM CLASSIC - ETC/USD. As long as you are above the support located at 22.81 USD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 23.68 USD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 24.31 USD as an objective. Crossing it would then enable buyers to target 26.60 USD. If the support 22.81 USD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
Technical indicators are opposing the general bullish 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
1.3
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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 23.14 USD. The price is lower by -0.09% since the last closing and was between 22.75 USD and 24.21 USD. This implies that the price is at +1.71% from its lowest and at -4.42% from its highest.22.75
24.21
23.14
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this ETHEREUM CLASSIC - ETC/USD chart shows a bullish trend. 71.43% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish trend is showing signs of running out of steam. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
Technical indicators are slightly bearish. There is therefore considerable uncertainty about the continuation of the decline.
Other results related to technical indicators were also found by the Central Indicators scanner:
MACD indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
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 a result that can have an impact on the price change:
Near support of channel
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:
Bearish harami
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 21.25 | 22.16 | 22.81 | 23.14 | 23.68 | 24.31 | 26.60 |
| Change (%) | -8.17% | -4.24% | -1.43% | - | +2.33% | +5.06% | +14.95% |
| Change | -1.89 | -0.98 | -0.33 | - | +0.54 | +1.17 | +3.46 |
| Level | Intermediate | Minor | Major | - | Intermediate | 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 |
|---|---|---|---|---|---|---|---|
| Standard | 20.37 | 21.13 | 22.15 | 22.91 | 23.93 | 24.69 | 25.71 |
| Camarilla | 22.67 | 22.83 | 23.00 | 23.16 | 23.32 | 23.49 | 23.65 |
| Woodie | 20.49 | 21.20 | 22.27 | 22.98 | 24.05 | 24.76 | 25.83 |
| Fibonacci | 21.13 | 21.81 | 22.23 | 22.91 | 23.59 | 24.01 | 24.69 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 17.62 | 18.82 | 20.74 | 21.94 | 23.86 | 25.06 | 26.98 |
| Camarilla | 21.79 | 22.08 | 22.36 | 22.65 | 22.94 | 23.22 | 23.51 |
| Woodie | 17.97 | 19.00 | 21.09 | 22.12 | 24.21 | 25.24 | 27.33 |
| Fibonacci | 18.82 | 20.02 | 20.75 | 21.94 | 23.14 | 23.87 | 25.06 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.79 | 12.23 | 16.97 | 20.41 | 25.15 | 28.59 | 33.33 |
| Camarilla | 19.46 | 20.21 | 20.96 | 21.71 | 22.46 | 23.21 | 23.96 |
| Woodie | 9.44 | 12.56 | 17.62 | 20.74 | 25.80 | 28.92 | 33.98 |
| Fibonacci | 12.23 | 15.36 | 17.29 | 20.41 | 23.54 | 25.47 | 28.59 |
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): | 47.24 | |
| MACD (12,26,9): | 0.0000 | |
| Directional Movement: | 9.88 | |
| AROON (14): | 7.14 | |
| DEMA (21): | 23.29 | |
| Parabolic SAR (0,02-0,02-0,2): | 23.66 | |
| Elder Ray (13): | -0.04 | |
| Super Trend (3,10): | 23.78 | |
| Zig ZAG (10): | 23.10 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 28.23 | |
| TEMA (21): | 23.18 | |
| Williams %R (14): | -71.77 | |
| Chande Momentum Oscillator (20): | -0.54 | |
| Repulse (5,40,3): | -1.0400 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0400 | |
| Courbe Coppock: | 3.11 |
| MA7: | 22.51 | |
| MA20: | 22.16 | |
| MA50: | 21.53 | |
| MA100: | 19.85 | |
| MAexp7: | 23.18 | |
| MAexp20: | 23.25 | |
| MAexp50: | 23.11 | |
| MAexp100: | 22.82 | |
| Price / MA7: | +2.80% | |
| Price / MA20: | +4.42% | |
| Price / MA50: | +7.48% | |
| Price / MA100: | +16.57% | |
| Price / MAexp7: | -0.17% | |
| Price / MAexp20: | -0.47% | |
| Price / MAexp50: | +0.13% | |
| Price / MAexp100: | +1.40% |
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.
About author
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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…
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