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Ether / Dollar intraday: above its upper Bollinger band

2024-02-09
1003

2421 is our pivot point.

Our preference: the upside prevails as long as 2421 is support.

Alternative scenario: the downside breakout of 2421 would call for 2375 and 2348.

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 2428 and 2427). Finally, the Ether / Dollar is trading above its upper Bollinger band (standing at 2449).

Supports and resistances:

2593 **

2566 *

2539 **

2512

2457 last

2438

2421 **

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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