Ethereum Price Momentum May Sustain Uptrend Despite Overbought RSI

Ethereum's recent uptrend may continue if the current price momentum holds strong. According to analysts, the cryptocurrency's Relative Strength Index (RSI) has been in an overbought territory since mid-February, indicating a possible correction.

However, some traders believe that Ethereum's upward movement is not yet over, citing the support from major cryptocurrencies like Bitcoin and stablecoins. They argue that the RSI levels are still not extreme and there is room for further price growth.

The analysts also point out that Ethereum's price has been trading within a narrow range of $1,800 to $2,000 in recent weeks, which could indicate a potential breakout above this resistance level. They suggest that if the price manages to break through this barrier, it may lead to further gains for the cryptocurrency.