Ethereum Intraday: the RSI is overbought
Sep 19, 2024 12:05 AM
the upside prevails as long as 2327 is support.
Our pivot point stands at 2327.
Our preference:
the upside prevails as long as 2327 is support.
Alternative scenario:
the downside breakout of 2327 would call for 2268 and 2232.
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 trading above both its 20 and 50 period moving average (respectively at 2326 and 2322). Finally, the Ether / Dollar has crossed above its upper Bollinger band (2376).
Supports and resistances:
2566 **
2530 *
2495 **
2459
2383 last
2351
2327 **
2268 *
2232 **
Our preference:
the upside prevails as long as 2327 is support.
Alternative scenario:
the downside breakout of 2327 would call for 2268 and 2232.
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 trading above both its 20 and 50 period moving average (respectively at 2326 and 2322). Finally, the Ether / Dollar has crossed above its upper Bollinger band (2376).
Supports and resistances:
2566 **
2530 *
2495 **
2459
2383 last
2351
2327 **
2268 *
2232 **
Disclaimer: References, analysis and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgment of the analyst, without considering the investment objectives and financial situation of the investors. All strategic opinions do not constitute investment advice or recommendations and are for references only. Our company also does not guarantee the accuracy of the strategic views and does not take any responsibility for the negative results caused by the trading strategies.
Related Instruments
Ethereum
2453.60
-8.93
-0.36%