ETHUSD Loses Strength

ETHEREUM CHART PRICE – ETHUSD DAILY

Ethereum had a bad week against the USD, after last Sunday massive gains it lose all that ground this week to finish just a bit above 228, the Relative Strength Index has dropped from 60 to 48% in just 4 days, more traders are selling this asset and we can expect that to continue over the weekend unless we see the RSI come back up a few points, Bollinger Bands are narrow but cryptocurrencies always have big moves on the weekends, the long term moving average crossed the short term meaning that we could expect a downtrend. Perhaps it could reach the support level at 213.71 that we established with the help of a fibonacci retracement.

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.