Jamie McKane
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Ethereum price surge warning
Ether has more than doubled this year, but technical indicators are starting to flash worrying signals for the second-biggest cryptocurrency.
Based on the GTI Global Strength Indicator, which measures upward and downward movements of successive closing prices, the coin is at its most overbought level since May 2019. An asset is considered overbought if the indicator exceeds 70 and oversold if it’s below 30 -- Ether touched as high as 92.7 this week.
[Bloomberg]
Ether has more than doubled this year, but technical indicators are starting to flash worrying signals for the second-biggest cryptocurrency.
Based on the GTI Global Strength Indicator, which measures upward and downward movements of successive closing prices, the coin is at its most overbought level since May 2019. An asset is considered overbought if the indicator exceeds 70 and oversold if it’s below 30 -- Ether touched as high as 92.7 this week.
[Bloomberg]