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Ether / Dollar ST: the RSI is overbought

2024-02-13
288

Our pivot point is at 2396.

Our preference: the upside prevails as long as 2396 is support.

Alternative scenario: below 2396, expect 2062 and 1863.

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 2374 and 2380). Finally, the Ether / Dollar is trading above its upper Bollinger band (standing at 2634).

Supports and resistances:

3690 **

3489 *

3288 **

3087

2669 last

2528

2396 **

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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