ETH Bearish divergence 1H - Weak market

25 Ağu 2022

Over the last few months, BTC and ETH have failed to rally out of the seller controlled prices - BTC crumbled at 25K and ETH quickly rejected 2K to end its parabolic rally.

• On the 1H, ETH hit a local resistance @ $1720, and a bearish divergence along with a double top is seen on the RSI. It's likely that it will fall to local support of $1530. Below $1530 marks a significant change in altcoin sentiment, which could bring new lows.
  
• On the daily, BTC rejected the 10W MA, and is trading below key support.
  

Could the rally be coming to an end? Let me know.