23 November 2019 - ETH/DAI – 4-hourly

23 November 2019 - ETH/DAI – 4-hourly

In this 4-hourly chart of Ethereum/ Single Collateral DAI (ETH/DAI), there is a depreciating range from 188.55 to 172.12.

We can see the price appreciated to the 176.63 level (identified by the red down arrow), above the 175.9975 area that represents the 23.6% retracement of the depreciating range.

The pair then depreciated as low as the 155.58 area before retracing higher.

Using RSI, we can see the slope of RSI (14) and RSI Average (3) moved from negative to positive on the bars subsequent to the low print of 155.58. These developments indicated a likely reversal and this was confirmed when RSI (14) crossed above RSI Average (3).

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