Ethereum Intraday: the RSI is overbought
Sep 19, 2024 8:41 AM
the upside prevails as long as 2384 is support.
2384 is our pivot point.
Our preference:
the upside prevails as long as 2384 is support.
Alternative scenario:
below 2384, expect 2323 and 2286.
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 above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 2405 and 2349).
Supports and resistances:
2619 **
2583 *
2546 **
2510
2432 last
2408
2384 **
2323 *
2286 **
Our preference:
the upside prevails as long as 2384 is support.
Alternative scenario:
below 2384, expect 2323 and 2286.
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 above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 2405 and 2349).
Supports and resistances:
2619 **
2583 *
2546 **
2510
2432 last
2408
2384 **
2323 *
2286 **
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Ethereum
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