Ethereum Classic (CRYPTO: ETC), Ethereum (CRYPTO: ETH) and Bitcoin (CRYPTO: BTC) were just a few of the popular cryptocurrencies consolidating on Tuesday. All three cryptos had a relative strength index (RSI) registering above 70% which put them into overbought territory and the consolidation was needed.
For technical traders, an extended RSI is a sell signal and some traders of the cryptos may have decided to sell some or all of their positions with the hope to buy back and lower or average…
Source link
