ETHUSD possible correction to 300

30 באוג׳ 2017

I believe ethereum now may be due for a huge correction. RSI is massively oversold on the 4hr and 1d Charts, and every previous instance of RSI in the current range has been followed by a correction. We are Close to previous ATH, and I would expect a lot of People to take their profits now. The current (and Third) rally does not seem to be driven by the same increase in volume as previous rallies. I suggest a drop to around 300, which both seems to be an area that would offer quite some support, and also IMHO seems to fit nicely with fib levels.