Ether / Dollar intraday: the upside prevails as long as 3177 is support
Our pivot point stands at 3177.
Our preference:
The upside prevails as long as 3177 is support.
Alternative scenario:
The downside breakout of 3177 would call for 3075 and 3014.
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 3201 and 3143).
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