ETHUSD - Overbought - Bearish Divergence
Updated
On the 4h-timeframe (left chart) chart of Ethereum (ETHUSD) we can see bearish regular divergence has appeared. Divergence is a strong indication that the price will move in the opposite direction. This chart is showing that it is likely for the price to drop.
On the 1d-timeframe (right chart) of Ethereum (ETHUSD) we can see an overbought condition. The three indicators are all suggesting this condition and it is likely for the price to drop. The three indicators used are the Bollinger Bands, RSI, and the Stochastics.
There are two indications on different timeframes and are complementary to each other and suggest that the price will drop.
All further details are shown on the charts.
Good luck!
On the 1d-timeframe (right chart) of Ethereum (ETHUSD) we can see an overbought condition. The three indicators are all suggesting this condition and it is likely for the price to drop. The three indicators used are the Bollinger Bands, RSI, and the Stochastics.
There are two indications on different timeframes and are complementary to each other and suggest that the price will drop.
All further details are shown on the charts.
Good luck!
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