Technical Analysis: Ethereum (ETH) Could See a Steeper Pullback
Ethereum (ETH) has been leading the recent altcoin mini-bull run and the bulls have been fully in charge for the last week after a major move to the upside with solid continuation and strong volume.
The RSI for Ethereum was extended on the daily chart and has been cooled off a little bit today after a small and healthy pullback of around 2%. Ethereum is trading well above its 12 and 26-day EMAs and they have shown no sign of weakness yet.
Bulls should expect a steeper pullback after a 25% move in just 5 days, however, it’s not clear whether bears will be able to pull off another day of consolidation.
Disclaimer: This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.