Ethereum Intraday: the RSI is overbought
Ethereum (ETH/USD)
+145.10+8.69%
the upside prevails as long as 1743 is support.
Our pivot point is at 1743.
Our preference: the upside prevails as long as 1743 is support.
Alternative scenario: the downside breakout of 1743 would call for 1718 and 1703.
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 positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1729 and 1703).
Supports and resistances:
1826 *
1811 **
1795
1763 last
1743 **
1718 *
1703 **
Our preference: the upside prevails as long as 1743 is support.
Alternative scenario: the downside breakout of 1743 would call for 1718 and 1703.
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 positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1729 and 1703).
Supports and resistances:
1826 *
1811 **
1795
1763 last
1743 **
1718 *
1703 **
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