ETHEREUM CLASSIC - ETC/USD - 1H - Technical analysis published on 01/04/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
50%
33%
My opinion
Bearish under 20.34 USD
My targets
19.37 USD (-2.96%)
17.30 USD (-13.31%)
My analysis
The bearish trend is currently very strong for ETHEREUM CLASSIC - ETC/USD. As long as the price remains below the resistance at 20.34 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 19.37 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 17.30 USD as an objective. Crossing it would then enable sellers to target 16.69 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
7.1
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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 19.96 USD. On the day, this instrument lost -0.20% and was between 19.81 USD and 20.25 USD. This implies that the price is at +0.76% from its lowest and at -1.43% from its highest.19.81
20.25
19.96
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of ETHEREUM CLASSIC - ETC/USD in 1H shows a overall strongly bearish trend. 92.86% 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.
In fact, according to the parameters integrated into the Central Analyzer system, only 9 technical indicators out of 18 analysed are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 14.75 | 16.69 | 19.37 | 19.96 | 20.34 | 20.81 | 21.87 |
| Change (%) | -26.10% | -16.38% | -2.96% | - | +1.90% | +4.26% | +9.57% |
| Change | -5.21 | -3.27 | -0.59 | - | +0.38 | +0.85 | +1.91 |
| Level | Major | Minor | Intermediate | - | Minor | Intermediate | Major |
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 | 14.41 | 16.51 | 18.25 | 20.35 | 22.09 | 24.19 | 25.93 |
| Camarilla | 18.94 | 19.30 | 19.65 | 20.00 | 20.35 | 20.70 | 21.06 |
| Woodie | 14.24 | 16.42 | 18.08 | 20.26 | 21.92 | 24.10 | 25.76 |
| Fibonacci | 16.51 | 17.97 | 18.88 | 20.35 | 21.81 | 22.72 | 24.19 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 15.04 | 17.30 | 19.83 | 22.09 | 24.62 | 26.88 | 29.41 |
| Camarilla | 21.03 | 21.47 | 21.91 | 22.35 | 22.79 | 23.23 | 23.67 |
| Woodie | 15.17 | 17.37 | 19.96 | 22.16 | 24.75 | 26.95 | 29.54 |
| Fibonacci | 17.30 | 19.13 | 20.26 | 22.09 | 23.92 | 25.05 | 26.88 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.69 | 15.51 | 18.72 | 21.54 | 24.75 | 27.57 | 30.78 |
| Camarilla | 20.27 | 20.83 | 21.38 | 21.93 | 22.48 | 23.04 | 23.59 |
| Woodie | 12.89 | 15.61 | 18.92 | 21.64 | 24.95 | 27.67 | 30.98 |
| Fibonacci | 15.51 | 17.81 | 19.24 | 21.54 | 23.84 | 25.27 | 27.57 |
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): | 36.46 | |
| MACD (12,26,9): | -0.3100 | |
| Directional Movement: | -33.14 | |
| AROON (14): | 28.58 | |
| DEMA (21): | 19.82 | |
| Parabolic SAR (0,02-0,02-0,2): | 20.16 | |
| Elder Ray (13): | -0.19 | |
| Super Trend (3,10): | 20.59 | |
| Zig ZAG (10): | 19.96 | |
| VORTEX (21): | 0.9700 | |
| Stochastique (14,3,5): | 46.21 | |
| TEMA (21): | 19.89 | |
| Williams %R (14): | -65.91 | |
| Chande Momentum Oscillator (20): | -0.04 | |
| Repulse (5,40,3): | -0.2100 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.2700 | |
| Courbe Coppock: | 0.14 |
| MA7: | 21.62 | |
| MA20: | 21.20 | |
| MA50: | 20.34 | |
| MA100: | 18.51 | |
| MAexp7: | 20.06 | |
| MAexp20: | 20.27 | |
| MAexp50: | 20.92 | |
| MAexp100: | 21.42 | |
| Price / MA7: | -7.68% | |
| Price / MA20: | -5.85% | |
| Price / MA50: | -1.87% | |
| Price / MA100: | +7.83% | |
| Price / MAexp7: | -0.50% | |
| Price / MAexp20: | -1.53% | |
| Price / MAexp50: | -4.59% | |
| Price / MAexp100: | -6.82% |
Quotes :
-
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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