Ether / USD may rise to 4449 - 4835

Our pivot point stands at 3154.

Our preference

The upside prevails as long as 3154 is support.

Alternative scenario

The downside breakout of 3154 would call for 2508 and 2124.

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 3080 and 3169). Finally, the Ether / Dollar has crossed above its upper Bollinger band (3511).

Supports and resistances

5607 **

5221 *

4835 **

4449

3672 last

3408

3154 **

2508 *

2124 **

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