Ethereum: Why investors should look beyond ETH’s current formation

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Ethereum: Why investors should look beyond ETH’s current formation
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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice Long and short-term ETH holders saw gains If BTC’s bearish sentiment persists, ETH could find new support at $1217.22 and $1166.83 Ethereum [ETH] witnessed a drop just as it headed into the weekend. It lost […]

ETH has been operating within the $1,239 – $1,378 range during September and October. An upside breakout from the range led ETH to pump by over 20%, reaching a high of $1,682.11 in early November. But the market crash forced a downtrend that led to massive price correction the last time ETH attempted a rally.

Technical indicators suggested that ETH could drop further. The Relative Strength Index moved sideways and rested on the 50-neutral level with a drop in mind. This showed that buyers’ exhaustion could give sellers more leverage.

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