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Ether / Dollar intraday: the RSI is oversold

2024-01-23
643

2226 is our pivot point.

Our preference: the downside prevails as long as 2226 is resistance.

Alternative scenario: above 2226, look for 2268 and 2293.

Comment: the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 2260 and 2309).

Supports and resistances:

2293 **

2268 *

2226 **

2210

2187 last

2123

2098 **

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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