Ethereum Intraday: the RSI is overbought
Ethereum (ETH/USD)
+58.31+3.59%
the upside prevails as long as 1662 is support.
Our pivot point stands at 1662.
Our preference: the upside prevails as long as 1662 is support.
Alternative scenario: the downside breakout of 1662 would call for 1638 and 1623.
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 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 1638 and 1618). Finally, the Ether / Dollar has crossed above its upper Bollinger band (1681).
Supports and resistances:
1743 *
1729 **
1714
1682 last
1662 **
1638 *
1623 **
Our preference: the upside prevails as long as 1662 is support.
Alternative scenario: the downside breakout of 1662 would call for 1638 and 1623.
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 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 1638 and 1618). Finally, the Ether / Dollar has crossed above its upper Bollinger band (1681).
Supports and resistances:
1743 *
1729 **
1714
1682 last
1662 **
1638 *
1623 **
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