Ethereum Intraday: the RSI is oversold
Ethereum (ETH/USD)
+23.83+0.75%
the downside prevails as long as 3219 is resistance.
Our pivot point stands at 3219.
Our preference: the downside prevails as long as 3219 is resistance.
Alternative scenario: above 3219, look for 3293 and 3337.
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 negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 3236 and 3287).
Supports and resistances:
3337 **
3293 *
3219 **
3190
3160 last
3065
3021 **
2977 *
2933 **
Our preference: the downside prevails as long as 3219 is resistance.
Alternative scenario: above 3219, look for 3293 and 3337.
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 negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 3236 and 3287).
Supports and resistances:
3337 **
3293 *
3219 **
3190
3160 last
3065
3021 **
2977 *
2933 **
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