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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.
Ethereum Price Analysis: RSI divergence could indicate some weakness ahead
Rajan Dhall, MSTARajan Dhall, MSTAFX 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.

Ethereum Analysis

Additional Levels

ETH/USD

Overview
Today last price270.65
Today Daily Change4.28
Today Daily Change %1.61
Today daily open266.37
 
Trends
Daily SMA20197.12
Daily SMA50166.38
Daily SMA100161.76
Daily SMA200175.96
 
Levels
Previous Daily High275.64
Previous Daily Low237.67
Previous Weekly High224.35
Previous Weekly Low179.06
Previous Monthly High186.73
Previous Monthly Low125.81
Daily Fibonacci 38.2%261.14
Daily Fibonacci 61.8%252.17
Daily Pivot Point S1244.14
Daily Pivot Point S2221.92
Daily Pivot Point S3206.17
Daily Pivot Point R1282.11
Daily Pivot Point R2297.86
Daily Pivot Point R3320.08

Author

Rajan Dhall, MSTA

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

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