Ethereum Intraday: above its upper Bollinger band
Ethereum (ETH/USD)
+170.21+10.20%
as long as 1704 is support look for 1794.
Our pivot point stands at 1704.
Our preference: as long as 1704 is support look for 1794.
Alternative scenario: the downside breakout of 1704 would call for 1679 and 1664.
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 below its signal line. The price could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1720 and 1696). Finally, the Ether / Dollar is trading above its upper Bollinger band (standing at 1730).
Supports and resistances:
1809 *
1794 **
1779
1738 last
1704 **
1679 *
1664 **
Our preference: as long as 1704 is support look for 1794.
Alternative scenario: the downside breakout of 1704 would call for 1679 and 1664.
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 below its signal line. The price could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1720 and 1696). Finally, the Ether / Dollar is trading above its upper Bollinger band (standing at 1730).
Supports and resistances:
1809 *
1794 **
1779
1738 last
1704 **
1679 *
1664 **
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