ETH Analysis; Possible Reversal
Hello Traders! CTDave here again with another daily price analysis chart.
You can see that there is an area of support and strong demand zone which ETH almost hit. A look at the RSI shows that Ethereum is going to be oversold soon. There is a triangle pattern forming so ETH might retrace back before going higher.
As always, I encourage everyone to please like, comment, and share my ideas, and follow me for more of these posts to be kept updated. Happy trading! Thank you!
Note: I am not a financial advisor, please do not trade solely based on my trading decisions. Do your own research or consult a professional financial advisor before conducting a trade.
You can see that there is an area of support and strong demand zone which ETH almost hit. A look at the RSI shows that Ethereum is going to be oversold soon. There is a triangle pattern forming so ETH might retrace back before going higher.
As always, I encourage everyone to please like, comment, and share my ideas, and follow me for more of these posts to be kept updated. Happy trading! Thank you!
Note: I am not a financial advisor, please do not trade solely based on my trading decisions. Do your own research or consult a professional financial advisor before conducting a trade.
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