Ethereum [ETH] has trended within a horizontal channel since it closed above $3650 on 20 May. A horizontal channel is formed when...
A horizontal channel is formed when the price of an asset consolidates within a range for some time. This happens when there is a relative balance between buying and selling pressures, which prevents the asset’s price from trending strongly in either direction.
Although still positioned above the 50-neutral spot, ETH’s Relative Strength Index and Money Flow Index have been “flat” in the past few days.
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