Ethereum Intraday: the RSI is oversold
Ethereum (ETH/USD)
+18.84+0.60%
the downside prevails as long as 3229 is resistance.
Our pivot point stands at 3229.
Our preference: the downside prevails as long as 3229 is resistance.
Alternative scenario: above 3229, look for 3303 and 3348.
Comment: the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 3269 and 3300).
Supports and resistances:
3348 **
3303 *
3229 **
3200
3171 last
3073
3029 **
2985 *
2941 **
Our preference: the downside prevails as long as 3229 is resistance.
Alternative scenario: above 3229, look for 3303 and 3348.
Comment: the RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 3269 and 3300).
Supports and resistances:
3348 **
3303 *
3229 **
3200
3171 last
3073
3029 **
2985 *
2941 **
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