ETH/USD looking oversold, could still have further room to fall
ETH/USD is showing the most oversold conditions of the year according to the RSI. Long-term support is being tested at $150. A breach of this level could open the way for a fall all the way down to $125.
The trading pair is at the bottom of a descending channel. Again, breaking beneath it will be bearish, and traders will begin looking for signs of a bottom soon after.
Long-term holders see an opportunity to buy this dip even now in the face of a potential further drop. In the past, the RSI being this oversold has always preceded a major rally.
The trading pair is at the bottom of a descending channel. Again, breaking beneath it will be bearish, and traders will begin looking for signs of a bottom soon after.
Long-term holders see an opportunity to buy this dip even now in the face of a potential further drop. In the past, the RSI being this oversold has always preceded a major rally.