Our pivot point stands at 2532.
Our preference: the upside prevails as long as 2532 is support.
Alternative scenario: the downside breakout of 2532 would call for 2491 and 2466.
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 positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 2462 and 2446). Finally, the Ether / Dollar is trading above its upper Bollinger band (standing at 2564).
Supports and resistances:
2721 **
2696 *
2671 **
2646
2594 last
2548
2532 **
2491 *
2466 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 11-06-2024 at 04:05 UTC+1
Price reference: 2594 last known on 11-06-2024 at 04:05 UTC+1
Investment horizon: INTRADAY
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