CM Trade

Download APP to receive bonus

GET

Ether / Dollar intraday: the RSI is overbought

2023-10-24
1263

1754 is our pivot point.

Our preference: the upside prevails as long as 1754 is support.

Alternative scenario: below 1754, expect 1732 and 1719.

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 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 1717 and 1695).

Supports and resistances:

1851 **

1838 *

1824 **

1811

1783 last

1763

1754 **

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More