Ethereum Intraday: the downside prevails as long as 2321 is resistance
Ethereum (ETH/USD)
-79.27-3.39%
the downside prevails as long as 2321 is resistance.
Our pivot point stands at 2321.
Our preference: the downside prevails as long as 2321 is resistance.
Alternative scenario: above 2321, look for 2363 and 2388.
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 2303 and 2321).
Supports and resistances:
2388 **
2363 *
2321 **
2285 last
2232
2207 **
2182 *
Our preference: the downside prevails as long as 2321 is resistance.
Alternative scenario: above 2321, look for 2363 and 2388.
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 2303 and 2321).
Supports and resistances:
2388 **
2363 *
2321 **
2285 last
2232
2207 **
2182 *
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