Ethereum Intraday: the RSI is overbought
Ethereum (ETH/USD)
+252.95+5.73%
the upside prevails as long as 4537 is support.
4537 is our pivot point.
Our preference: the upside prevails as long as 4537 is support.
Alternative scenario: below 4537, expect 4422 and 4354.
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 above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 4563 and 4520).
Supports and resistances:
4994 **
4925 *
4856 **
4787
4650 last
4582
4537 **
4422 *
4354 **
Our preference: the upside prevails as long as 4537 is support.
Alternative scenario: below 4537, expect 4422 and 4354.
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 above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 4563 and 4520).
Supports and resistances:
4994 **
4925 *
4856 **
4787
4650 last
4582
4537 **
4422 *
4354 **
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.
