Ether / USD may rise to 2592 - 2620

Our pivot point is at 2492.

Our preference

The upside prevails as long as 2492 is support.

Alternative scenario

The downside breakout of 2492 would call for 2444 and 2415.

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 2484 and 2468).

Supports and resistances

2677 **

2649 *

2620 **

2592

2529 last

2510

2492 **

2444 *

2415 **

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