Our pivot point is at 1359.
Our preference: the downside prevails as long as 1359 is resistance.
Alternative scenario: above 1359, look for 1397 and 1421.
Comment: the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1344 and 1350). Finally, the Ether / Dollar is trading below its lower Bollinger band (standing at 1323).
Supports and resistances:
1421 **
1397 *
1359 **
1343
1320 last
1270
1247 **
1225 *
1202 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 10-05-2022 at 16:06 UTC+1
Price reference: 1320 last known on 10-05-2022 at 16:06 UTC+1
Investment horizon: INTRADAY
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