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As Expected, Ethereum Consolidates (For Now)

After becoming overbought, Ethereum (CRYPTO:ETH) is consolidating or trading sideways. This was expected, as cryptos often consolidate after becoming overbought.
byMark Putrino
May 5, 2021
1 minute read
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After becoming overbought, Ethereum (CRYPTO:ETH) is consolidating or trading sideways. This was expected, as cryptos often consolidate after becoming overbought.

This doesn’t mean the recent rally is over. It could just mean it’s taking a pause. Once the overbought conditions dissipate the rally could get back into motion. The bottom part of the chart shows that this is happening.

eth_6.png

 
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