ETHEREUM CLASSIC - ETC/USD - 1H - Technical analysis published on 07/26/2023 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
44%
6%
50%
My opinion
Bearish under 18.59 USD
My targets
17.83 USD (-1.38%)
17.09 USD (-5.48%)
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 under the resistance located at 18.59 USD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 17.83 USD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 17.09 USD as an objective. Crossing it would then enable sellers to target 14.74 USD. If the resistance 18.59 USD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
1.3
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Additional analysis
Quotes
The ETHEREUM CLASSIC - ETC/USD rating is 18.08 USD. On the day, this instrument lost -0.28% and was traded between 17.96 USD and 18.18 USD over the period. The price is currently at +0.67% from its lowest and -0.55% from its highest.17.96
18.18
18.08
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this ETHEREUM CLASSIC - ETC/USD chart shows a bearish trend. The signals given by moving averages are 71.43% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, only 8 technical indicators out of 18 studied are currently bullish. Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
From the Japanese candlestick perspective, the Central Candlesticks scanner notes the presence of these results that could impact the short-term trend:
Bullish harami
Type : Bullish
Timeframe : 1 hour
Bullish harami cross
Type : Bullish
Timeframe : 1 hour
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 14.74 | 17.09 | 17.83 | 18.08 | 18.59 | 18.71 | 18.90 |
| Change (%) | -18.47% | -5.48% | -1.38% | - | +2.82% | +3.48% | +4.54% |
| Change | -3.34 | -0.99 | -0.25 | - | +0.51 | +0.63 | +0.82 |
| Level | Minor | Intermediate | Intermediate | - | Major | Minor | Minor |
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 | 16.96 | 17.40 | 17.76 | 18.20 | 18.56 | 19.00 | 19.36 |
| Camarilla | 17.91 | 17.98 | 18.06 | 18.13 | 18.20 | 18.28 | 18.35 |
| Woodie | 16.93 | 17.38 | 17.73 | 18.18 | 18.53 | 18.98 | 19.33 |
| Fibonacci | 17.40 | 17.70 | 17.89 | 18.20 | 18.50 | 18.69 | 19.00 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 17.00 | 17.67 | 18.06 | 18.73 | 19.12 | 19.79 | 20.18 |
| Camarilla | 18.16 | 18.26 | 18.35 | 18.45 | 18.55 | 18.64 | 18.74 |
| Woodie | 16.86 | 17.60 | 17.92 | 18.66 | 18.98 | 19.72 | 20.04 |
| Fibonacci | 17.67 | 18.08 | 18.33 | 18.73 | 19.14 | 19.39 | 19.79 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.45 | 10.24 | 15.58 | 18.37 | 23.71 | 26.50 | 31.84 |
| Camarilla | 18.69 | 19.44 | 20.19 | 20.93 | 21.68 | 22.42 | 23.17 |
| Woodie | 8.74 | 10.88 | 16.87 | 19.01 | 25.00 | 27.14 | 33.13 |
| Fibonacci | 10.24 | 13.34 | 15.26 | 18.37 | 21.47 | 23.39 | 26.50 |
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): | 48.96 | |
| MACD (12,26,9): | -0.0200 | |
| Directional Movement: | 5.61 | |
| AROON (14): | 21.43 | |
| DEMA (21): | 18.03 | |
| Parabolic SAR (0,02-0,02-0,2): | 17.98 | |
| Elder Ray (13): | 0.02 | |
| Super Trend (3,10): | 18.22 | |
| Zig ZAG (10): | 18.08 | |
| VORTEX (21): | 0.9700 | |
| Stochastique (14,3,5): | 50.00 | |
| TEMA (21): | 18.08 | |
| Williams %R (14): | -45.45 | |
| Chande Momentum Oscillator (20): | 0.08 | |
| Repulse (5,40,3): | -0.2500 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0200 | |
| Courbe Coppock: | 0.25 |
| MA7: | 18.49 | |
| MA20: | 18.84 | |
| MA50: | 17.93 | |
| MA100: | 18.39 | |
| MAexp7: | 18.07 | |
| MAexp20: | 18.07 | |
| MAexp50: | 18.17 | |
| MAexp100: | 18.35 | |
| Price / MA7: | -2.22% | |
| Price / MA20: | -4.03% | |
| Price / MA50: | +0.84% | |
| Price / MA100: | -1.69% | |
| Price / MAexp7: | +0.06% | |
| Price / MAexp20: | +0.06% | |
| Price / MAexp50: | -0.50% | |
| Price / MAexp100: | -1.47% |
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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