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.

Rajan Dhall, MSTA FX Daily

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.

Additional Levels

ETH/USD

Overview
Today last price	270.65
Today Daily Change	4.28
Today Daily Change %	1.61
Today daily open	266.37

Trends
Daily SMA20	197.12
Daily SMA50	166.38
Daily SMA100	161.76
Daily SMA200	175.96

Levels
Previous Daily High	275.64
Previous Daily Low	237.67
Previous Weekly High	224.35
Previous Weekly Low	179.06
Previous Monthly High	186.73
Previous Monthly Low	125.81
Daily Fibonacci 38.2%	261.14
Daily Fibonacci 61.8%	252.17
Daily Pivot Point S1	244.14
Daily Pivot Point S2	221.92
Daily Pivot Point S3	206.17
Daily Pivot Point R1	282.11
Daily Pivot Point R2	297.86
Daily Pivot Point R3	320.08

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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