ETHEREUM CLASSIC - ETC/USD - Daily - Technical analysis published on 04/12/2023 (GMT)
- 161
- 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 : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
78%
6%
17%
My opinion
Bullish above 19.85 USD
My targets
24.04 USD (+12.18%)
26.51 USD (+23.71%)
My analysis
ETHEREUM CLASSIC - ETC/USD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 19.85 USD. The next resistance located at 24.04 USD is the next bullish target to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 26.51 USD. After this resistance, buyers could then target 27.89 USD.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
6.3
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 21.43 USD. The price registered a decrease of -0.33% on the session and was between 20.71 USD and 21.94 USD. This implies that the price is at +3.48% from its lowest and at -2.32% from its highest.20.71
21.94
21.43
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of ETHEREUM CLASSIC - ETC/USD indicates that the overall trend is bullish. 71.43% of the signals given by moving averages are bullish. This bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 14 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
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:
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish harami
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 14.36 | 18.02 | 21.15 | 21.43 | 24.04 | 26.51 | 27.89 |
Change (%) | -32.99% | -15.91% | -1.31% | - | +12.18% | +23.71% | +30.14% |
Change | -7.07 | -3.41 | -0.28 | - | +2.61 | +5.08 | +6.46 |
Level | Major | Minor | Major | - | Intermediate | Intermediate | Minor |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 19.50 | 20.18 | 20.84 | 21.52 | 22.18 | 22.86 | 23.52 |
Camarilla | 21.13 | 21.25 | 21.38 | 21.50 | 21.62 | 21.75 | 21.87 |
Woodie | 19.49 | 20.18 | 20.83 | 21.52 | 22.17 | 22.86 | 23.51 |
Fibonacci | 20.18 | 20.69 | 21.01 | 21.52 | 22.03 | 22.35 | 22.86 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 17.93 | 18.90 | 19.64 | 20.61 | 21.35 | 22.32 | 23.06 |
Camarilla | 19.90 | 20.06 | 20.21 | 20.37 | 20.53 | 20.68 | 20.84 |
Woodie | 17.81 | 18.84 | 19.52 | 20.55 | 21.23 | 22.26 | 22.94 |
Fibonacci | 18.90 | 19.56 | 19.96 | 20.61 | 21.27 | 21.67 | 22.32 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 10.56 | 13.36 | 17.05 | 19.85 | 23.54 | 26.34 | 30.03 |
Camarilla | 18.95 | 19.54 | 20.14 | 20.73 | 21.33 | 21.92 | 22.52 |
Woodie | 11.00 | 13.58 | 17.49 | 20.07 | 23.98 | 26.56 | 30.47 |
Fibonacci | 13.36 | 15.84 | 17.37 | 19.85 | 22.33 | 23.86 | 26.34 |
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): | 57.57 | |
MACD (12,26,9): | 0.2500 | |
Directional Movement: | 10.43 | |
AROON (14): | 57.15 | |
DEMA (21): | 20.98 | |
Parabolic SAR (0,02-0,02-0,2): | 19.12 | |
Elder Ray (13): | 0.49 | |
Super Trend (3,10): | 18.70 | |
Zig ZAG (10): | 21.35 | |
VORTEX (21): | 1.0700 | |
Stochastique (14,3,5): | 68.37 | |
TEMA (21): | 21.24 | |
Williams %R (14): | -29.31 | |
Chande Momentum Oscillator (20): | 0.79 | |
Repulse (5,40,3): | 3.7600 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.1400 | |
Courbe Coppock: | 5.90 |
MA7: | 20.88 | |
MA20: | 20.64 | |
MA50: | 20.28 | |
MA100: | 20.90 | |
MAexp7: | 21.07 | |
MAexp20: | 20.71 | |
MAexp50: | 20.56 | |
MAexp100: | 20.91 | |
Price / MA7: | +2.63% | |
Price / MA20: | +3.83% | |
Price / MA50: | +5.67% | |
Price / MA100: | +2.54% | |
Price / MAexp7: | +1.71% | |
Price / MAexp20: | +3.48% | |
Price / MAexp50: | +4.23% | |
Price / MAexp100: | +2.49% |
Quotes :
-
Real time data
-
Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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 - Daily