*Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
Ether / Dollar intraday: the RSI is oversold
Ether / Dollar may fall 155 - 231 pips
Our pivot point is at 4210.
Our preference
The downside prevails as long as 4210 is resistance.
Alternative scenario
The upside breakout of 4210, would call for 4339 and 4416.
Comment
The RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (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 4210 and 4315).
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