Ethereum - Oversold in a bear trend

by Tim Straiton
Saturday 8th January 2022

Current level is 3217.35 and trading 6.03% below the rising 200 day moving average of 3413. This market is currently trading in an oversold area with the 14 day relative strength index at 27.43%. Initial support lies at 2654 which marks the precious low made on 21st September 2021. A break here puts focus on rising channel support at 2425.

We would like to see this market trade above the lower daily Bolliger band which is currently at 3245 and the MACD move above the zero line before considering a long position.


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