What could save Ethereum this time? Probably contrarian guidance from the Fed. However, as Warsh decided not to provide any guidance in terms of rates for the future, the market is kind of flying blind, and that could introduce some unnecessary volatility and make it more difficult for ETH to recover.
RSI Is About to Send a Strong Sell Signal
From a technical standpoint, ETH is still coming out of oversold territory in the Relative Strength Index (RSI). The oscillator is currently sitting at 40, meaning that it is just inches away from confirming a sell signal.
Unless we break past $1,800 this week, we expect a decline to $1,400 over the next few days.
