ETHEREUM Diverging RSI & Price Levels

in #ethereum6 years ago

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RSI and price level convergence is a huge chart pattern to look out for. It's typically a reversal sign -- and a big one at that.

As RSI slows down, there's less momentum for the way up and less strength. Buying is about near the end and we will soon see bears step in.

Ethereum has a HUGE resistance level at $640, so this might be the level we see the bigger pullback begin. There's strong support at $540, so we could see a pullback to this level and then a rally to hopefully break resistance.

Anyway, this is something to be aware of and is a huge sign for a pullback on the horizon -- FYI

Happy trading!

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