Ether / Dollar intraday: the RSI is overbought
Our pivot point stands at 3242.
Our preference: as long as 3242 is support look for 3464.
Alternative scenario: the downside breakout of 3242 would call for 3158 and 3108.
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 below its signal line and positive. The price could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 3277 and 3205).
Supports and resistances:
3564 **
3514 *
3464 **
3414
3314 last
3275
3242 **
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