Our pivot point stands at 2904.
Our preference: the downside prevails as long as 2904 is resistance.
Alternative scenario: the upside breakout of 2904, would call for 2977 and 3020.
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 below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 3004 and 3007). Finally, the Ether / Dollar has penetrated its lower Bollinger band (2876).
Supports and resistances:
3020 **
2977 *
2904 **
2875
2847 last
2750
2706 **
2663 *
2620 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 12-01-2025 at 02:05 UTC+1
Price reference: 2847 last known on 12-01-2025 at 02:05 UTC+1
Investment horizon: INTRADAY
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