Ethereum’s 14-week RSI (relative strength index) has risen above 70, a threshold that signals bullish gains.
One of the most preferred indicators by cryptocurrency investors using financial instruments gives signals on Ethereum. Relative strength index called RSI, Generally 14 days old or 14 weeks old like for a certain period of time It is a momentum tool that measures the change in price movements.
In the RSI in question 0 to 100There are values between . Values above 70 overbought signal while giving below 30 There is a downward momentum is pointing.
The 14-week RSI rise above 70, which occurred on Ethereum, was previously 2017 And 2020 It was observed in bulls. This rise in Ethereum spot Bitcoin ETF approval and upcoming Dencun update It is thought to originate from
While the RSI level exceeds 70, it is generally presented as a continuation of the rise, but sometimes it can produce the opposite results. In addition, Ethereum currently lags behind Bitcoin’s performance and With this signal, it will close the gap It is foreseen.