ETHEREUM CLASSIC - ETC/USD - Daily - Technical analysis published on 04/21/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
17%
56%
28%
My opinion
Bearish under 21.20 USD
My targets
19.26 USD (-3.99%)
18.02 USD (-10.17%)
My analysis
ETHEREUM CLASSIC - ETC/USD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 21.20 USD. The next support located at 19.26 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 18.02 USD. Below this support, sellers could then target 14.36 USD.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
5.9
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 20.06 USD. The price registered a decrease of -0.05% on the session and was traded between 19.76 USD and 20.24 USD over the period. The price is currently at +1.52% from its lowest and -0.89% from its highest.19.76
20.24
20.06
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:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of ETHEREUM CLASSIC - ETC/USD indicates that the overall trend is bearish. The signals given by moving averages are 78.57% bearish. This bearish trend is reinforced by the strong signals currently being given by short-term moving averages. An assessment of moving averages reveals several bearish signals that could impact this trend:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : Daily
Bearish trend reversal : Moving Average 100
Type : Bearish
Timeframe : Daily
In fact, 10 technical indicators on 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Ichimoku : price is under the cloud
Type : Bearish
Timeframe : Daily
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Bullish harami
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 14.36 | 18.02 | 19.26 | 20.06 | 21.20 | 24.04 | 26.51 |
| Change (%) | -28.41% | -10.17% | -3.99% | - | +5.68% | +19.84% | +32.15% |
| Change | -5.70 | -2.04 | -0.80 | - | +1.14 | +3.98 | +6.45 |
| Level | Major | Intermediate | Minor | - | Intermediate | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 18.70 | 19.24 | 19.66 | 20.20 | 20.62 | 21.16 | 21.58 |
| Camarilla | 19.81 | 19.89 | 19.98 | 20.07 | 20.16 | 20.25 | 20.33 |
| Woodie | 18.63 | 19.21 | 19.59 | 20.17 | 20.55 | 21.13 | 21.51 |
| Fibonacci | 19.24 | 19.61 | 19.84 | 20.20 | 20.57 | 20.80 | 21.16 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 17.57 | 18.88 | 20.51 | 21.82 | 23.45 | 24.76 | 26.39 |
| Camarilla | 21.32 | 21.59 | 21.86 | 22.13 | 22.40 | 22.67 | 22.94 |
| Woodie | 17.72 | 18.96 | 20.66 | 21.90 | 23.60 | 24.84 | 26.54 |
| Fibonacci | 18.88 | 20.01 | 20.70 | 21.82 | 22.95 | 23.64 | 24.76 |
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 is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 42.79 | |
| MACD (12,26,9): | 0.0900 | |
| Directional Movement: | -3.51 | |
| AROON (14): | -50.00 | |
| DEMA (21): | 21.26 | |
| Parabolic SAR (0,02-0,02-0,2): | 22.95 | |
| Elder Ray (13): | -1.09 | |
| Super Trend (3,10): | 19.30 | |
| Zig ZAG (10): | 20.14 | |
| VORTEX (21): | 0.9900 | |
| Stochastique (14,3,5): | 8.36 | |
| TEMA (21): | 21.17 | |
| Williams %R (14): | -89.94 | |
| Chande Momentum Oscillator (20): | -0.47 | |
| Repulse (5,40,3): | -5.0700 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.2300 | |
| Courbe Coppock: | 3.57 |
| MA7: | 21.21 | |
| MA20: | 21.17 | |
| MA50: | 20.31 | |
| MA100: | 21.09 | |
| MAexp7: | 20.87 | |
| MAexp20: | 21.07 | |
| MAexp50: | 20.83 | |
| MAexp100: | 21.02 | |
| Price / MA7: | -5.42% | |
| Price / MA20: | -5.24% | |
| Price / MA50: | -1.23% | |
| Price / MA100: | -4.88% | |
| Price / MAexp7: | -3.88% | |
| Price / MAexp20: | -4.79% | |
| Price / MAexp50: | -3.70% | |
| Price / MAexp100: | -4.57% |
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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