Ether / USD may rise to 2611 - 2640

2515 is our pivot point.

Our preference

The upside prevails as long as 2515 is support.

Alternative scenario

Below 2515, expect 2467 and 2438.

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 positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 2533 and 2487).

Supports and resistances

2697 **

2668 *

2640 **

2611

2553 last

2534

2515 **

2467 *

2438 **

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