Ethereum Intraday: the RSI is overbought
Ethereum (ETH/USD)
+39.35+1.57%
the upside prevails as long as 2531 is support.
2531 is our pivot point.
Our preference: the upside prevails as long as 2531 is support.
Alternative scenario: the downside breakout of 2531 would call for 2449 and 2401.
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 above its 20 and 50 period moving average (respectively at 2542 and 2518).
Supports and resistances:
2859 **
2810 *
2761 **
2713
2598 last
2563
2531 **
2449 *
2401 **
Our preference: the upside prevails as long as 2531 is support.
Alternative scenario: the downside breakout of 2531 would call for 2449 and 2401.
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 above its 20 and 50 period moving average (respectively at 2542 and 2518).
Supports and resistances:
2859 **
2810 *
2761 **
2713
2598 last
2563
2531 **
2449 *
2401 **
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