ETHUSD analysis: RSI signals oversold conditions amid potential trading range formation
Ethereum (ETH) is at a critical juncture, with the ETHUSD pair reflecting key technical signals that traders and investors cannot ignore. On the 4-hour chart, the Relative Strength Index (RSI), a widely-used momentum oscillator, is nearing oversold territory, aligning with a sharp decline in price. This development brings Ethereum close to the lower boundary of a long-term ascending channel, leaving traders focused on whether ETH will stabilize, reverse, or form a new trading range.
