- Relative Strength Index: The RSI is currently at a healthy 55 points. That's better than most cryptos that are having a hard time holding current support.
- Bollinger Bands: ETH/USD is also well within the BB range. This also signals a healthy market that could start trading sideways. The bad news is that the current ETH price is still below the MA, if ETH can stay above $170, that would be a good sign for the bulls.
- Volume: The volume is moderately low, this means the market can still make a few percent moves in either direction.
Ethereum (ETH) Price Prediction
RSI and BBs are both signalling a relatively healthy market compared to what happened earlier today. Moveover, while the amount of volume is still moderate, it's definitely winding down. If the volume gets any lower, that's another sign that we may see recovery.
I'm going to go out on a limb here and predict that ETH will stabilize around $170 and trade sideways for the next few hours. Assuming Bitcoin doesn't make any big moves anytime soon, I believe ETH will start recovering within a day.
Read Full Ethereum Price Analysis and Prediction: NullTX
