Ethereum Intraday: the downside prevails as long as 1716 is resistance
Ethereum (ETH/USD)
-82.53-4.76%
the downside prevails as long as 1716 is resistance.
Our pivot point stands at 1716.
Our preference: the downside prevails as long as 1716 is resistance.
Alternative scenario: the upside breakout of 1716, would call for 1745 and 1763.
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 negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1719 and 1735).
Supports and resistances:
1763 **
1745 *
1716 **
1692 last
1655
1637 **
1620 *
Our preference: the downside prevails as long as 1716 is resistance.
Alternative scenario: the upside breakout of 1716, would call for 1745 and 1763.
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 negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1719 and 1735).
Supports and resistances:
1763 **
1745 *
1716 **
1692 last
1655
1637 **
1620 *
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