ETHEREUM CLASSIC - ETC/USD - 1H - Technical analysis published on 08/03/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
67%
0%
33%
My opinion
Bearish under 20.91 USD
My targets
20.06 USD (-2.29%)
17.26 USD (-15.94%)
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 20.91 USD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 20.06 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 17.26 USD as an objective. Crossing it would then enable sellers to target 14.80 USD. If the resistance 20.91 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, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
1.1
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The ETHEREUM CLASSIC - ETC/USD price is 20.53 USD. The price has increased by +1.58% since the last closing and was between 19.66 USD and 20.55 USD. This implies that the price is at +4.43% from its lowest and at -0.10% from its highest.19.66
20.55
20.53
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of ETHEREUM CLASSIC - ETC/USD in 1H shows an overall bearish trend. 75.00% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
In fact, 12 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S2
S1
R1
R2
R3
Price
| S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 14.80 | 20.06 | 20.53 | 20.91 | 21.50 | 22.14 |
| Change (%) | -27.91% | -2.29% | - | +1.85% | +4.72% | +7.84% |
| Change | -5.73 | -0.47 | - | +0.38 | +0.97 | +1.61 |
| Level | Intermediate | Intermediate | - | Intermediate | 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 | 18.10 | 19.08 | 19.65 | 20.63 | 21.20 | 22.18 | 22.75 |
| Camarilla | 19.79 | 19.94 | 20.08 | 20.22 | 20.36 | 20.50 | 20.65 |
| Woodie | 17.90 | 18.98 | 19.45 | 20.53 | 21.00 | 22.08 | 22.55 |
| Fibonacci | 19.08 | 19.67 | 20.04 | 20.63 | 21.22 | 21.59 | 22.18 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 17.26 | 19.28 | 21.10 | 23.12 | 24.94 | 26.96 | 28.78 |
| Camarilla | 21.85 | 22.21 | 22.56 | 22.91 | 23.26 | 23.61 | 23.97 |
| Woodie | 17.15 | 19.23 | 20.99 | 23.07 | 24.83 | 26.91 | 28.67 |
| Fibonacci | 19.28 | 20.75 | 21.66 | 23.12 | 24.59 | 25.50 | 26.96 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.51 | 14.92 | 18.34 | 21.75 | 25.17 | 28.58 | 32.00 |
| Camarilla | 19.89 | 20.52 | 21.14 | 21.77 | 22.40 | 23.02 | 23.65 |
| Woodie | 11.53 | 14.92 | 18.36 | 21.75 | 25.19 | 28.58 | 32.02 |
| Fibonacci | 14.92 | 17.53 | 19.14 | 21.75 | 24.36 | 25.97 | 28.58 |
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): | 48.09 | |
| MACD (12,26,9): | -0.1600 | |
| Directional Movement: | -9.33 | |
| AROON (14): | -42.86 | |
| DEMA (21): | 20.25 | |
| Parabolic SAR (0,02-0,02-0,2): | 19.76 | |
| Elder Ray (13): | 0.11 | |
| Super Trend (3,10): | 20.65 | |
| Zig ZAG (10): | 20.53 | |
| VORTEX (21): | 0.8000 | |
| Stochastique (14,3,5): | 88.19 | |
| TEMA (21): | 20.31 | |
| Williams %R (14): | -9.37 | |
| Chande Momentum Oscillator (20): | 0.17 | |
| Repulse (5,40,3): | 0.3400 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.1600 | |
| Courbe Coppock: | 1.14 |
| MA7: | 21.69 | |
| MA20: | 22.82 | |
| MA50: | 22.73 | |
| MA100: | 25.44 | |
| MAexp7: | 20.42 | |
| MAexp20: | 20.49 | |
| MAexp50: | 20.90 | |
| MAexp100: | 21.41 | |
| Price / MA7: | -5.35% | |
| Price / MA20: | -10.04% | |
| Price / MA50: | -9.68% | |
| Price / MA100: | -19.30% | |
| Price / MAexp7: | +0.54% | |
| Price / MAexp20: | +0.20% | |
| Price / MAexp50: | -1.77% | |
| Price / MAexp100: | -4.11% |
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.
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