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Ether / Dollar intraday: the RSI is overbought

2024-02-27
433

Our pivot point is at 3193.

Our preference: the upside prevails as long as 3193 is support.

Alternative scenario: the downside breakout of 3193 would call for 3135 and 3101.

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 above its 20 and 50 period moving average (respectively at 3185 and 3130).

Supports and resistances:

3420 **

3385 *

3351 **

3316

3239 last

3216

3193 **

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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