Notice the hourly RSI remained level but the price kept rising. This means there is not much more wiggle room for RSI. Expect ETHUSD to bleed for the next few hours. Lock in your gains!
Disclaimer: This is a trading idea and not recommendation to buy or sell. Please trade based on your own convictions. If this idea helped save your bacon, please give a thumbs up.
You would need to assess the price in relation to ETH/BTC to make an assumption
brpatel
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@atorrealba, Agreed that BTC affects ETH via that pairing. But is this divergence not indicative of ETHUSD pair not able to wiggle much further up? Last time such a divergence appeared in overbought RSI, on ETHUSD 240min, it was followed by a couple red candles.
atorrealba
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@brpatel, Yea man the RSI isn't a great indicator for ETH/USD as it was sitting on oversold at $700 for days without movement until it dumped to $500 and spilled over to $400. That's the main issue at hand is that RSI against ETH/USD cannot assess how BTC moves in tandem with USDT