#ETH Breaks $2,700 ⭐To analyze Ethereum's price action around the $2709 level, several technical indicators can be useful. Here are some key ones:
- *Relative Strength Index (RSI)*: This indicator measures the magnitude of recent price changes to determine overbought or oversold conditions. Currently, ETH's RSI on the 4-hour chart is below 45, indicating a bearish divergence. A drop below 30 could signal an oversold condition, potentially leading to a bounce back.
- *Parabolic Curve*: Ethereum's long-term price action follows a parabolic curve, which has defined its major market cycles since 2