Hello, welcome to this ETHEREUM /USD update by CRYPTO SANDERS.
CHART ANALYSIS:-Ethereum (ETH) somewhat slowed in today’s session, with the price approaching its floor at $1,600.
Following a high of $1,658.02 to start the week, ETH/USD dropped to a bottom of $1,609.16 earlier in the day.
Sentiment in the world’s second-largest cryptocurrency seems to have already shifted, with several dojis (candlesticks signaling reversal) appearing on the chart.
As can also be seen on the chart, the RSI is currently hovering slightly above a floor at 74.00, which is a current reading of 74.07.
Should a breakout take place, bearish pressure will likely increase, with traders potentially eyeing a move under $1,600.
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