Relative Strength Index: RSI is currently at a healthy 51 points, meaning the market may continue to trade sideways. If the RSI drops dangerously close to the 30 point, it would signify an oversold market. Looking at previous times when the RSI dropped below 30, the decline was instantly followed by a rebound. As such, if the RSI drops below 30 points, that could be a potential target for entering a position.
Bollinger Bands: The Ethereum price is right at the sweet spot for Bollinger Bands. It's last deviation was unsuccessfully testing $172.5, so we can expect a small drop in the next few hours. Looking at previous times when the price touched the lower band, the rebound was significant. So keep an eye out for too strong of a drop.
Volume: The trading volume is low this weekend. The fact that today is Sunday and tomorrow is Labor day is a potential reason for the low market activity.
Ethereum Price Prediction
The RSI is showing a healthy market and the price is dead center between the Bollinger bands. Moreover, the volume is exceptionally low meaning sideways trading is the most likely outcome for the next day.
Read More: Ethereum Price Analysis and Prediction for September 1st, 2019
Bollinger Bands: The Ethereum price is right at the sweet spot for Bollinger Bands. It's last deviation was unsuccessfully testing $172.5, so we can expect a small drop in the next few hours. Looking at previous times when the price touched the lower band, the rebound was significant. So keep an eye out for too strong of a drop.
Volume: The trading volume is low this weekend. The fact that today is Sunday and tomorrow is Labor day is a potential reason for the low market activity.
Ethereum Price Prediction
The RSI is showing a healthy market and the price is dead center between the Bollinger bands. Moreover, the volume is exceptionally low meaning sideways trading is the most likely outcome for the next day.
Read More: Ethereum Price Analysis and Prediction for September 1st, 2019