Ether May Be Set for Pullback After Surging Past $4,000: Chart

Ether May Be Set for Pullback After Surging Past $4,000: Chart

Ether may be setting up for a pullback after reaching overbought conditions with a year-to-date rally of more than 400%. The second-biggest cryptocurrency needs to digest its rapid rise to $4,000, according to David Keller, chief market strategist at StockCharts.com. And Miller Tabak + Co.’s Matt Maley pointed to the daily relative-strength index at around 90, which to him shows that the digital asset “is getting extremely overbought on a short-term basis” and may struggle for upside in the near term.

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