Ethereum Price Analysis: RSI divergence could indicate some weakness ahead
|- Ethereum Classic trades 1.13% higher on Thursday in a wild day from cryptocurrencies.
- The main resistance level for the bulls is now 275 but could the RSI divergence cause some bearishness.
ETH/USD 1-Hour Chart
Ethereum hit a wall today just above 275.00 on Wednesday.
Now the ETH/USD pair is consolidating between 278.01 and 253.75.
A break either side now could indicate the longer-term direction for this pair.
On the indicator front, the RSI is showing a bearish divergence. This is when the price makes a higher wave high but the indicator makes a lower high wave.
This shows that the price rise may be losing momentum.
The volume is showing that there is still lots of interest in this pair and both buying and selling volume matched between the two levels mentioned above.
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Additional Levels
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