Ethereum Intraday: the downside prevails as long as 1998 is resistance
Ethereum (ETH/USD)
-69.11-3.44%
the downside prevails as long as 1998 is resistance.
Our pivot point stands at 1998.
Our preference: the downside prevails as long as 1998 is resistance.
Alternative scenario: the upside breakout of 1998, would call for 2051 and 2083.
Comment: the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1997 and 2008).
Supports and resistances:
2083 **
2051 *
1998 **
1978
1953 last
1885
1854 **
1823 *
1791 **
Our preference: the downside prevails as long as 1998 is resistance.
Alternative scenario: the upside breakout of 1998, would call for 2051 and 2083.
Comment: the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1997 and 2008).
Supports and resistances:
2083 **
2051 *
1998 **
1978
1953 last
1885
1854 **
1823 *
1791 **
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