ETH/USD Clears April High as RSI Holds in Overbought Territory
ETH/USD consolidates after taking out the April high ($2133) while the Relative Strength Index (RSI) holds in overbought territory.
ETH/USD Outlook
ETH/USD struggles to extend the series of higher highs and lows from last week as it pulls back from a fresh yearly high ($2136), with a close below $2051 (50% Fibonacci extension) raising the scope for a move towards the $1908 (61.8% Fibonacci extension) to $1926 (38.2% Fibonacci extension) region.
Next area of interest comes in around $1771 (23.6% Fibonacci extension), but the overbought reading in the RSI may accompany a further advance in ETH/USD like the price action from earlier this year.
A move above the yearly high ($2136) opens up the $2176 (61.8% Fibonacci extension) to $2228 (50% Fibonacci extension) area, with the next region of interest coming in around $2316 (61.8% Fibonacci retracement) to $2353 (78.6% Fibonacci extension).
ETH/USD Outlook
ETH/USD struggles to extend the series of higher highs and lows from last week as it pulls back from a fresh yearly high ($2136), with a close below $2051 (50% Fibonacci extension) raising the scope for a move towards the $1908 (61.8% Fibonacci extension) to $1926 (38.2% Fibonacci extension) region.
Next area of interest comes in around $1771 (23.6% Fibonacci extension), but the overbought reading in the RSI may accompany a further advance in ETH/USD like the price action from earlier this year.
A move above the yearly high ($2136) opens up the $2176 (61.8% Fibonacci extension) to $2228 (50% Fibonacci extension) area, with the next region of interest coming in around $2316 (61.8% Fibonacci retracement) to $2353 (78.6% Fibonacci extension).
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