As Expected, Ethereum Consolidates (For Now)

After becoming overbought, Ethereum (CRYPTO:ETH) is consolidating or trading sideways. This was expected, as cryptos often consolidate after becoming overbought.

This doesn’t mean the recent rally is over. It could just mean it’s taking a pause. Once the overbought conditions dissipate the rally could get back into motion. The bottom part of the chart shows that this is happening.