*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 upside prevails as long as 4004 is support
4004 is our pivot point.
Our preference
The upside prevails as long as 4004 is support.
Alternative scenario
Below 4004, expect 3875 and 3798.
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 trading above both its 20 and 50 period moving average (respectively at 4006 and 3980).
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