Ethereum Intraday: the RSI is overbought
Ethereum (ETH/USD)
+84.32+2.98%
the upside prevails as long as 2839 is support.
2839 is our pivot point.
Our preference: the upside prevails as long as 2839 is support.
Alternative scenario: the downside breakout of 2839 would call for 2773 and 2733.
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 trading above both its 20 and 50 period moving average (respectively at 2852 and 2854). Finally, the Ether / Dollar is trading above its upper Bollinger band (standing at 2914).
Supports and resistances:
3179 **
3139 *
3098 **
3058
2964 last
2864
2839 **
2773 *
2733 **
Our preference: the upside prevails as long as 2839 is support.
Alternative scenario: the downside breakout of 2839 would call for 2773 and 2733.
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 trading above both its 20 and 50 period moving average (respectively at 2852 and 2854). Finally, the Ether / Dollar is trading above its upper Bollinger band (standing at 2914).
Supports and resistances:
3179 **
3139 *
3098 **
3058
2964 last
2864
2839 **
2773 *
2733 **
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