Ether / Dollar intraday: the RSI is overbought
Our pivot point is at 3952.
Our preference:
The upside prevails as long as 3952 is support.
Alternative scenario:
Below 3952, expect 3825 and 3749.
Comment:
The RSI is trading above 70. This could mean that either the pair 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 above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 3821 and 3840). Finally, the Ether / Dollar is trading above its upper Bollinger band (standing at 4042).
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