ETH/USD Breakout Keeps RSI in Overbought Territory
ETH/USD breaks out of the range bound price action from last week to keep the Relative Strength Index (RSI) in overbought territory.
ETH/USD Outlook
ETH/USD extends the series of higher highs and lows from earlier this week to register a fresh yearly high ($3473), and the rally may persist as long as the RSI holds above 70.
A breach above the April 2022 high ($3581) opens up the $3890 (23.6% Fibonacci retracement) region, which largely aligns with the January 2022 high ($3892), with the net area of interest coming in around $4100 (161.8% Fibonacci extension).
However, failure to test the April 2022 high ($3581) may pull the RSI back from overbought territory, with a close below the $3230 (161.8% Fibonacci extension) to $3360 (100% Fibonacci extension) area bringing $3110 (78.6% Fibonacci extension) on the radar.
--- Written by David Song, Strategist
ETH/USD Outlook
ETH/USD extends the series of higher highs and lows from earlier this week to register a fresh yearly high ($3473), and the rally may persist as long as the RSI holds above 70.
A breach above the April 2022 high ($3581) opens up the $3890 (23.6% Fibonacci retracement) region, which largely aligns with the January 2022 high ($3892), with the net area of interest coming in around $4100 (161.8% Fibonacci extension).
However, failure to test the April 2022 high ($3581) may pull the RSI back from overbought territory, with a close below the $3230 (161.8% Fibonacci extension) to $3360 (100% Fibonacci extension) area bringing $3110 (78.6% Fibonacci extension) on the radar.
--- Written by David Song, Strategist
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.