Chart for ETH/USD (4H)
Ethereum (ETH) investors have nothing to worry about. The recent decline in Ethereum (ETH) sure was frightful. It is alarming to see the price of an asset decline by more than 10% in a single day. However, considering the ascending channel that Ethereum (ETH) has been trading in, this had to happen someday. As the above 4H chart for ETH/USD shows, Ethereum (ETH) had to fall to the bottom of the ascending channel. If anything, Bitcoin (BTC) has done it a favor by accelerating the decline. Ethereum (ETH) has bounced strongly off the bottom of the ascending channel. RSI has entered oversold territory on the 4H chart and is due for a reversal.