Ether / USD may rise to 3606 - 3650

Our pivot point is at 3450.

Our preference

The upside prevails as long as 3450 is support.

Alternative scenario

The downside breakout of 3450 would call for 3375 and 3330.

Comment

The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 3435 and 3401). Finally, the Ether / Dollar has crossed above its upper Bollinger band (3503).

Supports and resistances

3740 **

3695 *

3650 **

3606

3508 last

3479

3450 **

3375 *

3330 **

Number of asterisks represents the strength of support and resistance levels.