ETHEREUM CLASSIC - ETC/USD - Daily - Technical analysis published on 08/16/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Bullish
De fond:
Bullish
Technical indicators
56%
11%
33%
My opinion
Bullish above 6.05 USD
My targets
7.45 USD (+4.93%)
8.88 USD (+25.07%)
My analysis
All elements being rather bullish, it would be possible for traders to only trade long positions (at the time of purchase) on ETHEREUM CLASSIC - ETC/USD as long as the price remains well above 6.05 USD. The buyers” bullish objective is set at 7.45 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 8.88 USD. If there is any crossing, the next objective would be the resistance located at 9.82 USD. Be careful, the short term currently seems to be losing momentum. Its reversal would lead to mitigation of the, bullish, basic trend. If you have another key point closer to the current price, it would be better to only trade long positions (at the time of purchase) above that key point.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
5
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This analysis was given by AKOUSA. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The ETHEREUM CLASSIC - ETC/USD rating is 7.10 USD. The price is lower by -1.25% since the last closing and was between 6.97 USD and 7.29 USD. This implies that the price is at +1.87% from its lowest and at -2.61% from its highest.6.97
7.29
7.10
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Technical
Technical analysis of this Daily chart of ETHEREUM CLASSIC - ETC/USD indicates that the overall trend is bullish. 71.43% of the signals given by moving averages are bullish. The overall trend seems to be showing some signs of weakness, as do the tentative bullish signals given by short-term moving averages. An assessment of moving averages reveals several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : Daily
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : Daily
In fact, 10 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
RSI indicator is back over 50
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near support of channel
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 3.60 | 5.17 | 6.05 | 7.10 | 7.45 | 8.88 | 9.82 |
| Change (%) | -49.30% | -27.18% | -14.79% | - | +4.93% | +25.07% | +38.31% |
| Change | -3.50 | -1.93 | -1.05 | - | +0.35 | +1.78 | +2.72 |
| Level | Major | Minor | Major | - | Major | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.49 | 6.68 | 6.93 | 7.12 | 7.37 | 7.56 | 7.81 |
| Camarilla | 7.07 | 7.11 | 7.15 | 7.19 | 7.23 | 7.27 | 7.31 |
| Woodie | 6.53 | 6.70 | 6.97 | 7.14 | 7.41 | 7.58 | 7.85 |
| Fibonacci | 6.68 | 6.85 | 6.95 | 7.12 | 7.29 | 7.39 | 7.56 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.88 | 6.18 | 6.69 | 6.99 | 7.50 | 7.80 | 8.31 |
| Camarilla | 6.97 | 7.04 | 7.12 | 7.19 | 7.26 | 7.34 | 7.41 |
| Woodie | 5.98 | 6.23 | 6.79 | 7.04 | 7.60 | 7.85 | 8.41 |
| Fibonacci | 6.18 | 6.49 | 6.68 | 6.99 | 7.30 | 7.49 | 7.80 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.98 | 4.75 | 6.04 | 6.81 | 8.10 | 8.87 | 10.16 |
| Camarilla | 6.77 | 6.96 | 7.15 | 7.34 | 7.53 | 7.72 | 7.91 |
| Woodie | 4.25 | 4.88 | 6.31 | 6.94 | 8.37 | 9.00 | 10.43 |
| Fibonacci | 4.75 | 5.53 | 6.02 | 6.81 | 7.59 | 8.08 | 8.87 |
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): | 56.56 | |
| MACD (12,26,9): | 0.0900 | |
| Directional Movement: | 5.18 | |
| AROON (14): | -64.29 | |
| DEMA (21): | 7.09 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.59 | |
| Elder Ray (13): | 0.15 | |
| Super Trend (3,10): | 6.50 | |
| Zig ZAG (10): | 7.10 | |
| VORTEX (21): | 1.0500 | |
| Stochastique (14,3,5): | 42.28 | |
| TEMA (21): | 7.05 | |
| Williams %R (14): | -35.79 | |
| Chande Momentum Oscillator (20): | -0.07 | |
| Repulse (5,40,3): | 2.7600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.2900 | |
| Courbe Coppock: | 8.94 |
| MA7: | 6.92 | |
| MA20: | 7.10 | |
| MA50: | 6.56 | |
| MA100: | 6.55 | |
| MAexp7: | 7.00 | |
| MAexp20: | 6.94 | |
| MAexp50: | 6.73 | |
| MAexp100: | 6.60 | |
| Price / MA7: | +2.60% | |
| Price / MA20: | -0% | |
| Price / MA50: | +8.23% | |
| Price / MA100: | +8.40% | |
| Price / MAexp7: | +1.43% | |
| Price / MAexp20: | +2.31% | |
| Price / MAexp50: | +5.50% | |
| Price / MAexp100: | +7.58% |
Quotes :
2020-08-16 18:28:58
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Real time data
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Cryptocompare
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