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Jun 25 - 01:55 PM

Ether - Is Up But Downside Risks Remain

By Christopher Romano  —  Jun 25 - 11:45 AM
  • Ether rallied to 3423.29 Tuesday, traded up +3.2% in NY's morning

  • Despite the gains the crypto currency faces downside risks

  • The pair trades below the 10- & 50-DMAs, 10-DMA about to cross below 50-DMA

  • Daily RSI is unwinding near oversold condition, may indicate consolidation

  • Monthly RSI is falling which implies longer-term downward momentum

  • Test of May's low seems likely as US weekly claims, May PCE reports loom

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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