ETHMXN Recovers Some Ground

ETHMXN CHART PRICE – ETHMXN DAILY

After a bad trading day yesterday, where Ethereum lost 700 MXN, the crypto is taking a breather, it has recovered a small portion of the loss and it looks promising since the last drop in price almost made it to its support at $8,002. The relative strength index also fell with the price and reached 47%, we now see the RSI making small progress as the price continues to increase, currently it is at 50%, it could be a good time to enter the market as it is in the middle and we have range to grab a short or long trend, I see that the bollinger bands are opening up, and that could mean that there could be a trend change in the short term, the moving averages are finally catching up with the most recent downtrend and they are getting closer to each other, we could expect the price to rise in the short term.

This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.