Our pivot point stands at 2468.
Our preference: the upside prevails as long as 2468 is support.
Alternative scenario: the downside breakout of 2468 would call for 2405 and 2367.
Comment: the RSI is trading above 70. This could mean that either the price 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 2468 and 2448). Finally, the Ether / Dollar has crossed above its upper Bollinger band (2509).
Supports and resistances:
2723 **
2685 *
2647 **
2609
2528 last
2493
2468 **
2405 *
2367 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 09-20-2024 at 06:05 UTC+1
Price reference: 2528 last known on 09-20-2024 at 06:05 UTC+1
Investment horizon: INTRADAY
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