Search ForexCrunch
  • The RSI indicator has dipped but is still inside the overbought zone.
  • The MACD and Elliott Oscillator both indicate sustained bullish sentiment.

ETH/USD daily chart

ETH/USD daily chart

After seven consecutive buyer-dominant days, the sellers manage to take control of the ETH/USD market. So far, in the early hours of Saturday, ETH/USD dipped from $223.20 to $216.45 and dropped back inside the 20-day Bollinger Band to correct itself. The price is hovering above the SMA 20, SMA 50 and SMA 200 curves. Despite re-entering the Bollinger Band, the RSI indicator is still trending within the overbought zone, so a bit more bearish correction can be expected. Having said that, both the MACD and Elliott Oscillator indicate that the overall market sentiment is still bullish.