In my opinion and as I read the charts I see that it is reaching the oversold zone in both 1 hour and 4 hour time frames. However, because of merge it can move in any direction following bitcoin. So, it is important to keep an eye on bitcoin, merge and how the market reacts.
#DYOR
Note
The chart shows some green candles in oversold zone in 1 hour time frame giving indication of an upward movement.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.