Ether / Dollar intraday: the RSI is oversold
3791 is our pivot point.
Our preference:
The downside prevails as long as 3791 is resistance.
Alternative scenario:
Above 3791, look for 3908 and 3977.
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 negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 3782 and 3798).
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