The title says it all. As everything has been rallying, ETH has remained basically stagnant on the last two major bounces. This is extremely frustrating, especially considering the oversold RSI levels.
Ethereum has been the under performer in upward movement, while still providing equally negative losses on the pullbacks. The only flip side to this is longer term potential is higher.
At least on the "plus side", there's still an up trend pattern and we're seeing higher highs with higher lows on the 4-hr. This up trend is just not as satisfying as other performers right now. Litecoin is crushing the day so far.
You can't really tell on the chart (sorry), but Stochastic RSI is at the bottom and looking to cycle upward. This means there should be some bullish pressure before too long.
I do still think the longer term potential for ETH is great. Despite the lack of performance in this market currently, Ethereum is still one of my favorite cryptos and I think it will be extremely successful longer term (unlike my opinion of bitcoin's potential).
Hang in there!
