Ethereum Intraday: the upside prevails as long as 1718 is support
Ethereum (ETH/USD)
+33.09+1.94%
the upside prevails as long as 1718 is support.
1718 is our pivot point.
Our preference: the upside prevails as long as 1718 is support.
Alternative scenario: the downside breakout of 1718 would call for 1688 and 1670.
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 1724 and 1709).
Supports and resistances:
1815 *
1797 **
1779
1742 last
1718 **
1688 *
1670 **
Our preference: the upside prevails as long as 1718 is support.
Alternative scenario: the downside breakout of 1718 would call for 1688 and 1670.
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 1724 and 1709).
Supports and resistances:
1815 *
1797 **
1779
1742 last
1718 **
1688 *
1670 **
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