Ethereum Intraday: the RSI is overbought
Ethereum (ETH/USD)
+72.65+3.14%
the upside prevails as long as 2359 is support.
2359 is our pivot point.
Our preference: the upside prevails as long as 2359 is support.
Alternative scenario: the downside breakout of 2359 would call for 2305 and 2272.
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 2392 and 2349). Finally, the Ether / Dollar is trading above its upper Bollinger band (standing at 2418).
Supports and resistances:
2555 *
2522 **
2489
2420 last
2359 **
2305 *
2272 **
Our preference: the upside prevails as long as 2359 is support.
Alternative scenario: the downside breakout of 2359 would call for 2305 and 2272.
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 2392 and 2349). Finally, the Ether / Dollar is trading above its upper Bollinger band (standing at 2418).
Supports and resistances:
2555 *
2522 **
2489
2420 last
2359 **
2305 *
2272 **
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