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Crypto analyst predicts that ETH will have a relief rally

Dom – Crypto Speculator

On September 21, Rekt Capital, a Twitter user, made predictions on what would happen to Ethereum (ETH) following The Merge. A newsletter with a thorough analysis of ETH and predictions for the future was also added by the user.

An anonymous crypto analyst by the name of Rekt Capital frequently offers macro research, comments, and technical analysis pertaining to the crypto markets.

The researcher found a correlation between the price decline of ETH and the RSI's movement towards the green 37.67 level. He also referred to an earlier ETH study, which suggested that in order to confirm the RSI's double top, it may be necessary for the indicator to dive into the green 37.67 RSI support. Alternatively, the RSI may recover to disprove the Double Top and instead allow a relief rally to reach the green diagonal trendline resistance, marking a third rejection in the sequence of lower highs on the RSI. The descending triangle on the SRI will then continue to grow as a result.

Rekt Capital thinks the RSI could be able to produce a higher bottom in relation to the 37.67 support if ETH can hold the present orange support level. As a result, the RSI will be one step closer to refuting the Double Top theory, and a relief rally for ETH may be in store.

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