3 minsETHEREUM (ETH/USD):
On the daily timeframe, the price remains confined within the current range, showing no signs of gaining upward momentum for now. We are currently trading below $2,500. With rising tensions in the Middle East, the cryptocurrency market has already experienced a significant sell-off, following a strong close in September.
Taking a closer look at the technicals reveals that on the daily timeframe, we’re currently holding support on the third touch of this trendline. However, given the strong bearish closes in recent days, it will be interesting to see if this trendline holds or if the price moves lower into further support areas. The RSI indicator doesn’t suggest that the price is oversold yet, making it another key factor to watch closely.
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