ETH Overbought After 9% Pump — Sell into Strength
I see Ethereum in a sharp short-term pump: price ~4,689.5 USD, up ~9.15% in 24h on heavy volume (~4.74B).
Multi-timeframe RSI readings are elevated (M15 61.6, H1 70, H4 76.5, D1 77.8, D3 75.7, W1 70.1), indicating the asset is overbought across intraday to weekly frames and is stretched.
I would be cautious: momentum is strong but risks of a pullback or consolidation are high. Consider taking profits or waiting for a retracement before adding exposure.
Analysis
RSI readings above 70 on H1, H4, D1 and W1 signal overbought conditions; the rapid 9% move on high volume increases odds of a mean-reversion pullback despite strong momentum.
Recommendation
Take partial profits or sell into further strength and wait for a clear retracement or RSI cooldown before adding new long positions; manage risk with stops.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.