Ethereum Intraday: the RSI is oversold
Ethereum (ETH/USD)
-126.77-5.86%
the downside prevails as long as 2131 is resistance.
2131 is our pivot point.
Our preference: the downside prevails as long as 2131 is resistance.
Alternative scenario: the upside breakout of 2131, would call for 2194 and 2232.
Comment: the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 2123 and 2152). Finally, the Ether / Dollar is trading below its lower Bollinger band (standing at 2067).
Supports and resistances:
2232 **
2194 *
2131 **
2066 last
1988
1950 **
1913 *
Our preference: the downside prevails as long as 2131 is resistance.
Alternative scenario: the upside breakout of 2131, would call for 2194 and 2232.
Comment: the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 2123 and 2152). Finally, the Ether / Dollar is trading below its lower Bollinger band (standing at 2067).
Supports and resistances:
2232 **
2194 *
2131 **
2066 last
1988
1950 **
1913 *
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