Ethereum Intraday: the RSI is overbought
Sep 19, 2024 6:47 AM
the upside prevails as long as 2366 is support.
Our pivot point is at 2366.
Our preference:
the upside prevails as long as 2366 is support.
Alternative scenario:
the downside breakout of 2366 would call for 2305 and 2269.
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 trading above both its 20 and 50 period moving average (respectively at 2385 and 2341).
Supports and resistances:
2598 **
2562 *
2525 **
2489
2416 last
2389
2366 **
2305 *
2269 **
Our preference:
the upside prevails as long as 2366 is support.
Alternative scenario:
the downside breakout of 2366 would call for 2305 and 2269.
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 trading above both its 20 and 50 period moving average (respectively at 2385 and 2341).
Supports and resistances:
2598 **
2562 *
2525 **
2489
2416 last
2389
2366 **
2305 *
2269 **
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Ethereum
2464.69
2.16
+0.09%