Technical Analysis – ETHUSD pulls back aggressively from 11-month peak
Posted on April 20, 2023 at 9:59 am GMTETHUSD (Ethereum) had been trending higher since the beginning of the year, peaking at a fresh 11-month high of 2,142 after the successful completion of the Shanghai update. However, the digital coin experienced a significant downside correction in the past couple of sessions after reaching extremely overbought conditions. The momentum indicators currently suggest that the recent advance was indeed overstretched as both the RSI and the stochastic oscillator are coming down from their overbought territories. However, they remain above their 50-neutral marks, [..]