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Ether / Dollar intraday: the RSI is oversold

2024-03-14
659

Our pivot point stands at 3897.

Our preference: the downside prevails as long as 3897 is resistance.

Alternative scenario: above 3897, look for 3958 and 3995.

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 stands below its 20 and 50 period moving average (respectively at 3943 and 3970). Finally, the Ether / Dollar is trading below its lower Bollinger band (standing at 3846).

Supports and resistances:

3995 **

3958 *

3897 **

3872

3839 last

3758

3721 **

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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