Ethereum Intraday: the RSI is oversold
Ethereum (ETH/USD)
-36.09-1.93%
the downside prevails as long as 1865 is resistance.
Our pivot point is at 1865.
Our preference: the downside prevails as long as 1865 is resistance.
Alternative scenario: the upside breakout of 1865, would call for 1899 and 1919.
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 is trading under both its 20 and 50 period moving average (respectively at 1858 and 1876). Finally, the Ether / Dollar is trading below its lower Bollinger band (standing at 1830).
Supports and resistances:
1919 **
1899 *
1865 **
1826 last
1783
1763 **
1743 *
Our preference: the downside prevails as long as 1865 is resistance.
Alternative scenario: the upside breakout of 1865, would call for 1899 and 1919.
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 is trading under both its 20 and 50 period moving average (respectively at 1858 and 1876). Finally, the Ether / Dollar is trading below its lower Bollinger band (standing at 1830).
Supports and resistances:
1919 **
1899 *
1865 **
1826 last
1783
1763 **
1743 *
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