TRON / Dollar intraday: the RSI is overbought

Our pivot point is at 0.3058.

Our preference: the upside prevails as long as 0.3058 is support.

Alternative scenario: the downside breakout of 0.3058 would call for 0.3026 and 0.3007.

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 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 0.3059 and 0.3030).

Supports and resistances:

0.3194 **

0.3175 *

0.3155 **

0.3136

0.3092 last

0.3071

0.3058 **