Ether / Dollar intraday: the downside prevails as long as 2694 is resistance
Our pivot point is at 2694.
Our preference:
The downside prevails as long as 2694 is resistance.
Alternative scenario:
Above 2694, look for 2776 and 2825.
Comment:
The RSI is below 30. It could either mean that the price 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 2757 and 2756).
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