Ethereum Intraday: the RSI is overbought
Ethereum (ETH/USD)
+27.02+1.59%
the upside prevails as long as 1710 is support.
Our pivot point stands at 1710.
Our preference: the upside prevails as long as 1710 is support.
Alternative scenario: below 1710, expect 1679 and 1661.
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 positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1714 and 1699). Finally, the Ether / Dollar is trading above its upper Bollinger band (standing at 1737).
Supports and resistances:
1819 *
1801 **
1783
1744 last
1710 **
1679 *
1661 **
Our preference: the upside prevails as long as 1710 is support.
Alternative scenario: below 1710, expect 1679 and 1661.
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 positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1714 and 1699). Finally, the Ether / Dollar is trading above its upper Bollinger band (standing at 1737).
Supports and resistances:
1819 *
1801 **
1783
1744 last
1710 **
1679 *
1661 **
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