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Ether / Dollar intraday: the RSI is overbought

2024-04-22
673

3161 is our pivot point.

Our preference: the upside prevails as long as 3161 is support.

Alternative scenario: below 3161, expect 3080 and 3031.

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 trading above both its 20 and 50 period moving average (respectively at 3173 and 3165).

Supports and resistances:

3477 **

3429 *

3380 **

3331

3230 last

3193

3161 **

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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