ETHEREUM CLASSIC - ETC/USD - 1H - Technical analysis published on 11/28/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
61%
6%
33%
My opinion
Bearish under 18.94 USD
My targets
18.22 USD (-1.78%)
17.74 USD (-4.37%)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 18.94 USD remains possible. It is advisable to trade ETHEREUM CLASSIC - ETC/USD with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 18.94 USD. The next bearish objective for sellers is set at 18.22 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 17.74 USD. In case of crossing, the next objective would be the support located at 16.69 USD. PS: if there is a bullish break in the resistance located at 18.94 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
0.7
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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 rating is 18.55 USD. On the day, this instrument lost -0.05% and was traded between 18.19 USD and 18.64 USD over the period. The price is currently at +1.98% from its lowest and -0.48% from its highest.18.19
18.64
18.55
A study of price movements over other periods shows the following variations:
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
A technical analysis in 1H of this ETHEREUM CLASSIC - ETC/USD chart shows a bearish trend. 71.43% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : 1 hour
In fact, 11 technical indicators on 18 studied are currently positioned bullish. Other results related to technical indicators were also found by the Central Indicators scanner:
RSI indicator is back over 50
Type : Bullish
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
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 16.69 | 17.74 | 18.22 | 18.55 | 18.58 | 18.94 | 19.31 |
| Change (%) | -10.03% | -4.37% | -1.78% | - | +0.16% | +2.10% | +4.10% |
| Change | -1.86 | -0.81 | -0.33 | - | +0.03 | +0.39 | +0.76 |
| Level | Minor | Intermediate | Minor | - | Major | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 17.11 | 17.65 | 18.10 | 18.64 | 19.09 | 19.63 | 20.08 |
| Camarilla | 18.29 | 18.38 | 18.47 | 18.56 | 18.65 | 18.74 | 18.83 |
| Woodie | 17.08 | 17.63 | 18.07 | 18.62 | 19.06 | 19.61 | 20.05 |
| Fibonacci | 17.65 | 18.03 | 18.26 | 18.64 | 19.02 | 19.25 | 19.63 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 15.88 | 16.81 | 18.13 | 19.06 | 20.38 | 21.31 | 22.63 |
| Camarilla | 18.83 | 19.04 | 19.24 | 19.45 | 19.66 | 19.86 | 20.07 |
| Woodie | 16.08 | 16.91 | 18.33 | 19.16 | 20.58 | 21.41 | 22.83 |
| Fibonacci | 16.81 | 17.67 | 18.20 | 19.06 | 19.92 | 20.45 | 21.31 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 12.40 | 13.52 | 15.50 | 16.62 | 18.60 | 19.72 | 21.70 |
| Camarilla | 16.63 | 16.91 | 17.20 | 17.48 | 17.76 | 18.05 | 18.33 |
| Woodie | 12.83 | 13.74 | 15.93 | 16.84 | 19.03 | 19.94 | 22.13 |
| Fibonacci | 13.52 | 14.70 | 15.44 | 16.62 | 17.80 | 18.54 | 19.72 |
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): | 51.27 | |
| MACD (12,26,9): | -0.0400 | |
| Directional Movement: | -4.17 | |
| AROON (14): | -28.57 | |
| DEMA (21): | 18.41 | |
| Parabolic SAR (0,02-0,02-0,2): | 18.57 | |
| Elder Ray (13): | 0.07 | |
| Super Trend (3,10): | 18.65 | |
| Zig ZAG (10): | 18.55 | |
| VORTEX (21): | 0.9000 | |
| Stochastique (14,3,5): | 79.26 | |
| TEMA (21): | 18.48 | |
| Williams %R (14): | -20.00 | |
| Chande Momentum Oscillator (20): | -0.07 | |
| Repulse (5,40,3): | 0.0800 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0600 | |
| Courbe Coppock: | 0.25 |
| MA7: | 18.87 | |
| MA20: | 19.38 | |
| MA50: | 17.52 | |
| MA100: | 16.57 | |
| MAexp7: | 18.49 | |
| MAexp20: | 18.48 | |
| MAexp50: | 18.66 | |
| MAexp100: | 18.82 | |
| Price / MA7: | -1.70% | |
| Price / MA20: | -4.28% | |
| Price / MA50: | +5.88% | |
| Price / MA100: | +11.95% | |
| Price / MAexp7: | +0.32% | |
| Price / MAexp20: | +0.38% | |
| Price / MAexp50: | -0.59% | |
| Price / MAexp100: | -1.43% |
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.
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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