Technical Analysis of Daily Price Movement of Ethereum Cryptocurrency, Friday October 27, 2023.
October 27, 2023 5:24 am
Although on the daily chart Ethereum Cryptocurrency still moving in a tough condition which is indicates by the appearance of the deviation between price movement with RSI indicator as well as Bullish 123 pattern which is detected, followed by Bullish Ross Hook (RH) as well as the price movement that is above the WMA (30), but because the overbought condition of RSI, then in a few days ahead, Ethereum has a momentary weakening correction occurred to the level area of Bullish Fair Value Gap 1703,64-1646,69, but before reach those level area suddenly Ethereum turned stronger especially if manages to break above the level 1862,19, then the weakness correction scenario that has been described earlier will become invalid and cancel itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
Although on the daily chart Ethereum Cryptocurrency still moving in a tough condition which is indicates by the appearance of the deviation between price movement with RSI indicator as well as Bullish 123 pattern which is detected, followed by Bullish Ross Hook (RH) as well as the price movement that is above the WMA (30), but because the overbought condition of RSI, then in a few days ahead, Ethereum has a momentary weakening correction occurred to the level area of Bullish Fair Value Gap 1703,64-1646,69, but before reach those level area suddenly Ethereum turned stronger especially if manages to break above the level 1862,19, then the weakness correction scenario that has been described earlier will become invalid and cancel itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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