ETHEREUM CLASSIC - ETC/USDT - Weekly - Technical analysis published on 10/12/2022 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under 32.19 USDT
My targets
16.67 USDT (-29.91%)
13.70 USDT (-42.39%)
My analysis
There is a bearish trend on ETHEREUM CLASSIC - ETC/USDT both at the basic level and in the short term. A sale could be considered, so long as the price remains below 32.19 USDT. Each support break is a strong signal that the current trend will continue. The first bearish objective would be 16.67 USDT. Then the price could move towards 13.70 USDT. Be careful, a return to above the resistance 32.19 USDT would be a sign of a weakening of the trend and a possible rebound phase could then occur. In this case, you could keep away while waiting for a signal that the basic trend will resume. Trading against the trend is perhaps more risky.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
5.4
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This analysis was given by finacian. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
ETHEREUM CLASSIC - ETC/USDT rating 23.78 USDT. The price is lower by -14.58% over the 5 days and has been traded over the last 5 days between 23.72 USDT and 27.61 USDT. This implies that the 5 day price is +0.25% from its lowest point and -13.87% from its highest point.23.72
27.61
23.78
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
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
Technical analysis of this Weekly chart of ETHEREUM CLASSIC - ETC/USDT indicates that the overall trend is bearish. 75.00% of the signals given by moving averages are bearish. This bearish trend is slowing down slightly given the slightly bearish signals given by short-term moving averages. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : Weekly
An assessment of technical indicators shows a bearish signal.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
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:
Near horizontal support
Type : Bullish
Timeframe : Weekly
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 engulfing lines
Type : Bearish
Timeframe : Weekly
ProTrendLines
S1
R1
R2
R3
Price
| S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|
| ProTrendLines | 13.70 | 23.78 | 24.32 | 43.60 | 60.86 |
| Change (%) | -42.39% | - | +2.27% | +83.35% | +155.93% |
| Change | -10.08 | - | +0.54 | +19.82 | +37.08 |
| Level | 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 | 22.87 | 23.25 | 23.49 | 23.87 | 24.11 | 24.49 | 24.73 |
| Camarilla | 23.56 | 23.62 | 23.67 | 23.73 | 23.79 | 23.84 | 23.90 |
| Woodie | 22.80 | 23.22 | 23.42 | 23.84 | 24.04 | 24.46 | 24.66 |
| Fibonacci | 23.25 | 23.49 | 23.63 | 23.87 | 24.11 | 24.25 | 24.49 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 23.76 | 25.20 | 26.08 | 27.52 | 28.40 | 29.84 | 30.72 |
| Camarilla | 26.33 | 26.55 | 26.76 | 26.97 | 27.18 | 27.40 | 27.61 |
| Woodie | 23.49 | 25.06 | 25.81 | 27.38 | 28.13 | 29.70 | 30.45 |
| Fibonacci | 25.20 | 26.08 | 26.63 | 27.52 | 28.40 | 28.95 | 29.84 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.68 | 16.67 | 22.20 | 32.19 | 37.72 | 47.71 | 53.24 |
| Camarilla | 23.47 | 24.90 | 26.32 | 27.74 | 29.16 | 30.59 | 32.01 |
| Woodie | 4.46 | 15.56 | 19.98 | 31.08 | 35.50 | 46.60 | 51.02 |
| Fibonacci | 16.67 | 22.60 | 26.26 | 32.19 | 38.12 | 41.78 | 47.71 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 44.22 | |
| MACD (12,26,9): | -0.6100 | |
| Directional Movement: | 6.99 | |
| AROON (14): | 28.57 | |
| DEMA (21): | 27.77 | |
| Parabolic SAR (0,02-0,02-0,2): | 23.46 | |
| Elder Ray (13): | -3.28 | |
| Super Trend (3,10): | 16.40 | |
| Zig ZAG (10): | 23.88 | |
| VORTEX (21): | 1.0300 | |
| Stochastique (14,3,5): | 39.30 | |
| TEMA (21): | 29.30 | |
| Williams %R (14): | -67.20 | |
| Chande Momentum Oscillator (20): | -1.70 | |
| Repulse (5,40,3): | -34.1700 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.2500 | |
| Courbe Coppock: | 117.83 |
| MA7: | 25.87 | |
| MA20: | 27.21 | |
| MA50: | 31.42 | |
| MA100: | 30.54 | |
| MAexp7: | 28.06 | |
| MAexp20: | 28.86 | |
| MAexp50: | 31.13 | |
| MAexp100: | 30.22 | |
| Price / MA7: | -8.08% | |
| Price / MA20: | -12.61% | |
| Price / MA50: | -24.32% | |
| Price / MA100: | -22.13% | |
| Price / MAexp7: | -15.25% | |
| Price / MAexp20: | -17.60% | |
| Price / MAexp50: | -23.61% | |
| Price / MAexp100: | -21.31% |
Quotes :
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Real time data
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