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Ethereum price enters ‘oversold’ zone for the first time since November 2018 -Breaking


Ethereum Price enters the ‘oversold” zone for first time since November 2018.

Ether is Ethereum’s native currency (ETHAccording to the weekly relative strength index (RSI),, ) was “oversold” on June 12th for the first time since November 2018.

After a asset’s RSI reading falls below 30, traditional analysts view it as an excessive sale. The drop is also viewed as an “occasion to” sell the asset.Buy the DipAccording to this belief, an oversold signal will lead to trend reversal.

Weekly price chart showing oversold RSI. TradingView
Weekly price chart for Ethereum/USD with Fibonacci support levels and resistance levels. TradingView
USD/ETH versus SPX, daily price chart. TradingView