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Ether / Dollar ST: above its upper Bollinger band

2023-10-24
194

Our pivot point stands at 1647.

Our preference: the upside prevails as long as 1647 is support.

Alternative scenario: below 1647, expect 1495 and 1405.

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 1609 and 1620). Finally, the Ether / Dollar is trading above its upper Bollinger band (standing at 1738).

Supports and resistances:

2219 **

2129 *

2038 **

1948

1767 last

1707

1647 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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