Ether / USD may rise to 2721 - 2759

Our pivot point stands at 2583.

Our preference

The upside prevails as long as 2583 is support.

Alternative scenario

The downside breakout of 2583 would call for 2519 and 2481.

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 above its 20 and 50 period moving average (respectively at 2603 and 2595).

Supports and resistances

2835 **

2797 *

2759 **

2721

2641 last

2608

2583 **

2519 *

2481 **

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