ETH/USD on Cusp of Testing August High
ETH/USD is on the cusp of testing the August high ($1878) as it trades back above the 50-Day SMA ($1630).
ETH/USD Outlook
ETH/USD climbs to a fresh monthly high ($1854) as it extends the recent series of higher highs and lows, with the rally in Ethereum pushing the Relative Strength Index (RSI) up against overbought territory.
A move above 70 in the RSI is likely to be accompanied by a further advance in ETH/USD like the price action from earlier this year, with a break/close above the $1865 (23.6% Fibonacci retracement) to $1908 (61.8% Fibonacci extension) opening up the July high ($2029).
However, failure to test the August high ($1878) may keep the RSI out of overbought territory, with a move below $1699 (38.2% Fibonacci retracement) bringing $1623 (78.6% Fibonacci retracement) back on the radar.
ETH/USD Outlook
ETH/USD climbs to a fresh monthly high ($1854) as it extends the recent series of higher highs and lows, with the rally in Ethereum pushing the Relative Strength Index (RSI) up against overbought territory.
A move above 70 in the RSI is likely to be accompanied by a further advance in ETH/USD like the price action from earlier this year, with a break/close above the $1865 (23.6% Fibonacci retracement) to $1908 (61.8% Fibonacci extension) opening up the July high ($2029).
However, failure to test the August high ($1878) may keep the RSI out of overbought territory, with a move below $1699 (38.2% Fibonacci retracement) bringing $1623 (78.6% Fibonacci retracement) back on the radar.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.