Ether / USD may rise to 2741 - 2780

2612 is our pivot point.

Our preference

The upside prevails as long as 2612 is support.

Alternative scenario

The downside breakout of 2612 would call for 2547 and 2508.

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 2636 and 2616).

Supports and resistances

2857 **

2818 *

2780 **

2741

2663 last

2637

2612 **

2547 *

2508 **

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