Ether / USD may rise to 4702 - 5107

Our pivot point is at 3356.

Our preference

The upside prevails as long as 3356 is support.

Alternative scenario

The downside breakout of 3356 would call for 2676 and 2271.

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 3347 and 3229).

Supports and resistances

5917 **

5512 *

5107 **

4702

3890 last

3623

3356 **

2676 *

2271 **

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