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Ether / Dollar intraday: the upside prevails as long as 2437 is support

2024-02-09
518

Our pivot point is at 2437.

Our preference: the upside prevails as long as 2437 is support.

Alternative scenario: the downside breakout of 2437 would call for 2391 and 2364.

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 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 2447 and 2435).

Supports and resistances:

2608 **

2581 *

2554 **

2527

2473 last

2455

2437 **

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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