ETHEREUM CLASSIC - ETC/USD - 1H - Technical analysis published on 09/06/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bearish
Technical indicators
56%
11%
33%
My opinion
Bearish under 5.58 USD
My targets
5.03 USD (-5.27%)
4.92 USD (-7.34%)
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 5.58 USD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 5.03 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 4.92 USD as an objective. Crossing it would then enable sellers to target 4.51 USD. If the resistance 5.58 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 AKOUSA. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The ETHEREUM CLASSIC - ETC/USD price is 5.31 USD. The price registered an increase of +0.38% on the session with the lowest point at 4.99 USD and the highest point at 5.36 USD. The deviation from the price is +6.41% for the low point and -0.93% for the high point.4.99
5.36
5.31
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
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:
Abnormal volumes
Timeframe : 20 days
Technical
Technical analysis of ETHEREUM CLASSIC - ETC/USD in 1H shows an overall bearish trend. The signals given by moving averages are 67.86% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
The probability of a further increase are moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
Momentum indicator is back under 0
Type : Bearish
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.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 3.55 | 4.51 | 5.03 | 5.31 | 5.58 | 6.04 | 6.37 |
| Change (%) | -33.15% | -15.07% | -5.27% | - | +5.08% | +13.75% | +19.96% |
| Change | -1.76 | -0.80 | -0.28 | - | +0.27 | +0.73 | +1.06 |
| Level | Major | Minor | Major | - | Minor | Intermediate | 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 | 3.68 | 4.24 | 4.77 | 5.33 | 5.86 | 6.42 | 6.95 |
| Camarilla | 4.99 | 5.09 | 5.19 | 5.29 | 5.39 | 5.49 | 5.59 |
| Woodie | 3.66 | 4.23 | 4.75 | 5.32 | 5.84 | 6.41 | 6.93 |
| Fibonacci | 4.24 | 4.66 | 4.92 | 5.33 | 5.75 | 6.01 | 6.42 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.78 | 3.14 | 4.22 | 5.58 | 6.66 | 8.02 | 9.10 |
| Camarilla | 4.62 | 4.84 | 5.07 | 5.29 | 5.51 | 5.74 | 5.96 |
| Woodie | 1.63 | 3.07 | 4.07 | 5.51 | 6.51 | 7.95 | 8.95 |
| Fibonacci | 3.14 | 4.08 | 4.65 | 5.58 | 6.52 | 7.09 | 8.02 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.64 | 4.92 | 5.75 | 7.03 | 7.86 | 9.14 | 9.97 |
| Camarilla | 6.00 | 6.19 | 6.39 | 6.58 | 6.77 | 6.97 | 7.16 |
| Woodie | 3.42 | 4.81 | 5.53 | 6.92 | 7.64 | 9.03 | 9.75 |
| Fibonacci | 4.92 | 5.73 | 6.22 | 7.03 | 7.84 | 8.33 | 9.14 |
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): | 49.93 | |
| MACD (12,26,9): | -0.0600 | |
| Directional Movement: | -1.32 | |
| AROON (14): | -35.71 | |
| DEMA (21): | 5.19 | |
| Parabolic SAR (0,02-0,02-0,2): | 5.62 | |
| Elder Ray (13): | 0.06 | |
| Super Trend (3,10): | 5.99 | |
| Zig ZAG (10): | 5.31 | |
| VORTEX (21): | 0.8900 | |
| Stochastique (14,3,5): | 56.25 | |
| TEMA (21): | 5.19 | |
| Williams %R (14): | -37.50 | |
| Chande Momentum Oscillator (20): | -0.14 | |
| Repulse (5,40,3): | 5.8900 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.2000 | |
| Courbe Coppock: | 4.90 |
| MA7: | 5.93 | |
| MA20: | 6.42 | |
| MA50: | 6.72 | |
| MA100: | 6.53 | |
| MAexp7: | 5.24 | |
| MAexp20: | 5.28 | |
| MAexp50: | 5.44 | |
| MAexp100: | 5.71 | |
| Price / MA7: | -10.46% | |
| Price / MA20: | -17.29% | |
| Price / MA50: | -20.98% | |
| Price / MA100: | -18.68% | |
| Price / MAexp7: | +1.34% | |
| Price / MAexp20: | +0.57% | |
| Price / MAexp50: | -2.39% | |
| Price / MAexp100: | -7.01% |
Quotes :
2020-09-06 01:42:12
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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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