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  • ETH/USD had a bullish Monday, where it moved up from $259 to $267.80.
  • The RSI indicator is trending along the edge of the overbought zone.

ETH/USD daily chart

ETH/USD daily chart

Following a bullish Monday, wherein ETH/USD went up from $259 to $267.80, the bears were able to wrest back control in the early hours of Tuesday. So far, the bears have taken the price down to $265.45. The MACD line is about to cross over with the signal line to indicate an upcoming reversal of bullish momentum. The Elliott Oscillator has had two straight red sessions, while the RSI indicator is trending along the edge of the overbought zone so the price may drop even more.