3 min readETHEREUM (ETH/USD):
As previously noted, Ethereum has been underperforming in terms of price action and momentum. As the primary driver for most Altcoin price movements, ETH has yet to take the lead. I mentioned earlier that I was curious to see how price action would hold within these support areas, but it seems that we have mostly broken through the internal ascending trend line and are now in the process of retesting it.
If we examine the technicals more closely, it’s evident that we are rejecting the ascending trend line we recently broke through. However, it appears we have bounced back into the previous support region and are now trading higher. I’m interested to see how the price action evolves as we approach the end of the year. At the moment, the RSI indicator is flat, hovering around the 50% level, suggesting neutral momentum.
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