Ethereum MFI Signals Oversold

After today’s slight 3% dips, Ethereum has found itself creeping into the oversold territory on the MFI.

Ethereum 4hr candle chart, 9/17/21, approximately 5pm ET.

Bitcoin itself had a slight dip over the last 24hours, however it was noticeably smaller than Ethereum’s dip. Ethereum now looks like it’s attempting to find a new short term support in this area.

BTC is also approaching oversold territory as well on the MFI, meaning we may start to see BTC find short term support as well soon. This could mean as long as there aren’t any fundamental developments, the market could continue its uptrend.

BTC 4hr candle chart, approximately 5:30pm, 9/17/21.