Ethereum Intraday: the RSI is overbought
Jan 17, 2025 8:53 PM
the upside prevails as long as 3429 is support.
3429 is our pivot point.
Our preference:
the upside prevails as long as 3429 is support.
Alternative scenario:
the downside breakout of 3429 would call for 3348 and 3299.
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 above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 3431 and 3386). Finally, the Ether / Dollar is trading above its upper Bollinger band (standing at 3489).
Supports and resistances:
3767 **
3719 *
3670 **
3621
3523 last
3461
3429 **
3348 *
3299 **
Our preference:
the upside prevails as long as 3429 is support.
Alternative scenario:
the downside breakout of 3429 would call for 3348 and 3299.
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 above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 3431 and 3386). Finally, the Ether / Dollar is trading above its upper Bollinger band (standing at 3489).
Supports and resistances:
3767 **
3719 *
3670 **
3621
3523 last
3461
3429 **
3348 *
3299 **
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Ethereum
3467.52
-3.56
-0.10%