ETH/USD channel

ETH has formed lower highs and higher lows, cruising lower inside a falling channel on its daily time frame.

Price is stalling around the mid-channel area of interest, and technical indicators are hinting at a return in bullish pressure.

Is ETH/USD a buy or a sell?

The 100 SMA is still above the 200 SMA on this time frame, so there’s a good chance that buyers could stay in control. If that’s the case, ETH could bounce back up to the channel top or even break higher.

At the same time, Stochastic is hanging out at the oversold region, which means that sellers could take a break and let buyers take over from here.

What are your opinions on this?