Ether / Dollar intraday: the RSI is oversold
Our pivot point stands at 3858.
Our preference:
The downside prevails as long as 3858 is resistance.
Alternative scenario:
Above 3858, look for 3976 and 4047.
Comment:
The RSI is trading below 30. This could mean that either the pair 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 3869 and 3975).
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