Ethereum Intraday: the RSI is overbought
Ethereum (ETH/USD)
-6.36-0.14%
the upside prevails as long as 4408 is support.
Our pivot point stands at 4408.
Our preference: the upside prevails as long as 4408 is support.
Alternative scenario: below 4408, expect 4296 and 4229.
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 trading above both its 20 and 50 period moving average (respectively at 4431 and 4391).
Supports and resistances:
4849 **
4782 *
4714 **
4647
4512 last
4453
4408 **
4296 *
4229 **
Our preference: the upside prevails as long as 4408 is support.
Alternative scenario: below 4408, expect 4296 and 4229.
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 trading above both its 20 and 50 period moving average (respectively at 4431 and 4391).
Supports and resistances:
4849 **
4782 *
4714 **
4647
4512 last
4453
4408 **
4296 *
4229 **
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