Ether / USD may rise to 3569 - 3613

3420 is our pivot point.

Our preference

The upside prevails as long as 3420 is support.

Alternative scenario

Below 3420, expect 3346 and 3302.

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 trading above both its 20 and 50 period moving average (respectively at 3450 and 3420). Finally, the Ether / Dollar is trading above its upper Bollinger band (standing at 3474).

Supports and resistances

3701 **

3657 *

3613 **

3569

3479 last

3449

3420 **

3346 *

3302 **

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