Ethereum Intraday: the upside prevails as long as 1796 is support
Ethereum (ETH/USD)
-38.17-2.09%
the upside prevails as long as 1796 is support.
Our pivot point stands at 1796.
Our preference: the upside prevails as long as 1796 is support.
Alternative scenario: the downside breakout of 1796 would call for 1762 and 1742.
Comment: the RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (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 1809 and 1800).
Supports and resistances:
1906 *
1885 **
1865
1824 last
1796 **
1762 *
1742 **
Our preference: the upside prevails as long as 1796 is support.
Alternative scenario: the downside breakout of 1796 would call for 1762 and 1742.
Comment: the RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (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 1809 and 1800).
Supports and resistances:
1906 *
1885 **
1865
1824 last
1796 **
1762 *
1742 **
Disclaimer: References, analysis and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgment of the analyst, without considering the investment objectives and financial situation of the investors. All strategic opinions do not constitute investment advice or recommendations and are for references only. Our company also does not guarantee the accuracy of the strategic views and does not take any responsibility for the negative results caused by the trading strategies.
