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Ether / Dollar intraday: the RSI is overbought

2024-01-02
594

2307 is our pivot point.

Our preference: the upside prevails as long as 2307 is support.

Alternative scenario: the downside breakout of 2307 would call for 2264 and 2239.

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 positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 2315 and 2298).

Supports and resistances:

2471 **

2446 *

2420 **

2395

2343 last

2323

2307 **

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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