Baxia Markets
November 12, 2021

Ethereum finds a new all-time high for the second time in a week.

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The cryptocurrency continues the strong uptrend and could reach a new all-time high in the upcoming sessions; the pair is showing some pullbacks, which are necessary for the short and mid-term well-being of the pair; they allow the pair to grab strength once the market is getting exhausted.

The Bollinger bands are wide and moving in a pattern consistent with the cryptocurrency price, allowing the uptrend to continue in the short and mid-term. The price trades closer to the upper band but is not close enough to consider it overbought; as long as the bands continue to move upwards, we would see the price follow it.

ETHUSD Nov 9th 2021

The relative strength index is at 65%, there is not much room for it to continue moving up, but as long as we continue to see small pullbacks in the price, the RSI would stay below 70% for the next few sessions.


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