Here is a comprehensive and updated technical analysis for Ethereum Classic (ETC) based on the current market price (~$22.36): $ETC
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🔹 Current Market Summary
Current Price: $22.36, down ~‑5.7% from the previous close
Daily Range: Between $22.36 – $24.63 (last five hours)
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📈 Technical Indicators – Daily Analysis
RSI (14) ~30 → In the oversold region, typically preceding technical rebounds .
MACD: Negative with a strong sell signal → Possible reversal after shifting to a bullish crossover .
ADX (~40) → Indicates a clear trend, but currently in a strong downward path .
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📊 Key Technical Levels
Support/Resistance (Pivot – Classic & Fibonacci):
Support S1 (Classic): ~$16.30
Resistance R1: ~$16.40 (Daily Pivot)
(Note: Data is expressed in dollar units in daily Pivot models) .
Other Levels (CoinLore)
Current Trading Range: Between $21.35 and $24.12
Pivot Support: At ~$23–$22.40, which is the current level that needs to be maintained to stay above the slightly long-term upward trend line .
Fibonacci Pattern
0.618 Fibonacci (~$23.46): Important technical support, and may indicate a potential rebound
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🧭 Trading Recommendations
Day Traders
Entry at RSI support (~$22.40–$22.50) after confirming a retracement candle.
First target at approximate resistance $24.00–$24.60, with a stop loss below support.
Short/Medium-term Traders
Monitoring for a clear breakout above the key Pivot ~$23–$24. Follow-up target at $26–$28 if the close above resistance is successful .
