Ethereum Intraday: the RSI is overbought
Ethereum (ETH/USD)
-2.06-0.08%
the upside prevails as long as 2526 is support.
Our pivot point is at 2526.
Our preference: the upside prevails as long as 2526 is support.
Alternative scenario: below 2526, expect 2456 and 2414.
Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 2504 and 2456).
Supports and resistances:
2793 **
2751 *
2709 **
2668
2583 last
2553
2526 **
2456 *
2414 **
Our preference: the upside prevails as long as 2526 is support.
Alternative scenario: below 2526, expect 2456 and 2414.
Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 2504 and 2456).
Supports and resistances:
2793 **
2751 *
2709 **
2668
2583 last
2553
2526 **
2456 *
2414 **
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