Crypto Crash: BTC, ETH, Altcoins Drop as Fear & Greed Index Hits Lowest Level in 8 Months
Momentum indicators are favoring further drops ahead, as the Relative Strength Index (RSI) has moved below the signal line, meaning that momentum has shifted. This is consistent with the readings seen in the MACD’s histogram, as positive momentum is starting to fade.
Nevertheless, the path of least resistance at this point seems to be upwards considering that sellers would have to break through three robust support areas to generate meaningful gains.
Even if the sell-off continues, ETH’s maximum downside potential currently stands at around 10% if the price collapses to the $2,170 level – the third horizontal support line drawn in the chart.
Meanwhile, the upside potential is…
