According to U.Today, the 100eyes Crypto Scanner account has identified a bearish divergence on the hourly Ethereum chart. This phenomenon occurs when a cryptocurrency records higher highs on the price chart while simultaneously recording lower lows on the relative Strength Index (RSI) momentum oscillator. The RSI, which oscillates between 0 and 100, indicates whether an asset is overbought or oversold. If the price moves in the opposite direction of the oscillator, traders can spot divergence, which can be either bullish or bearish.
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Bearish
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