Ether / USD may rise to 2592 - 2620

Our pivot point is at 2480.

Our preference

The upside prevails as long as 2480 is support.

Alternative scenario

The downside breakout of 2480 would call for 2433 and 2404.

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 2464 and 2461). Finally, the Ether / Dollar has crossed above its upper Bollinger band (2507).

Supports and resistances

2677 **

2649 *

2620 **

2592

2526 last

2499

2480 **

2433 *

2404 **

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