Analyst Expects Ethereum Correction as Key Indicator Peaks

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Ethereum is down 7.5% in the past 24 hours as Bitcoin has begun to fall from its weekend peak. The leading cryptocurrency is currently under $600 for the first time in many days. Analysts fear a further correction is possible as Ethereum’s Stochastic relative strength index (RSI) has formed a near-term peak. Key Ethereum Indicator Reaches a Peak Ethereum is down 7.5% in the past 24 hours as Bitcoin has begun to fall from its weekend peak. ETH currently trades under $600. Analysts believe that Ethereum could continue its descent in the weeks ahead. The chart below was shared by a leading trader on December 21st. It shows that Ethereum is on the verge of breaking below the technical support of $600-630 as a key indicator is reaching a peak. The indicator in question is the Stochastic relative strength index (RSI), which is a popular indicator that tracks the strength…

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