ETH MFI Dips Into Oversold Territory

Written By Guest User
ETH 4-hour candle chart, approximately 1:44pm ET, 10/18/21.

ETH 4-hour candle chart, approximately 1:44pm ET, 10/18/21.

Ethereum is finding itself dipping into oversold territory on the MFI. Volume is still up as ETH tries to find definitive support. Momentum has continued to swing down and so have the EMAs on the MACD. Ethereum dominance has dipped below 18%, while BTC dominance holds around 47.2%.

ETH/BTC ratio 4-hour candle chart, 3:02 pm ET, 10/18/21.

ETH/BTC ratio 4-hour candle chart, 3:02 pm ET, 10/18/21.

Ethereum’s ratio is also testing short-term lows in its ratio to BTC. This area of support has been tested before and it tends to be strong. However, if sell-side pressure continues into BTC, we may see further dips in the ETH/BTC ratio to a longer-term support.

Guest User
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