Ether / USD may rise to 3661 - 3706

Our pivot point stands at 3508.

Our preference

The upside prevails as long as 3508 is support.

Alternative scenario

Below 3508, expect 3432 and 3387.

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 3494 and 3451).

Supports and resistances

3797 **

3751 *

3706 **

3661

3568 last

3538

3508 **

3432 *

3387 **

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