Ethereum, EOS, NEO Awaiting Retracement, Show Trading Indicators

Greed it taking over the price action for Ethereum, EOS, and NEO, suggesting a coming correction.

Ethereum Prepares for a Correction

Ethereum is going through a massive bullish impulse with its price surging by 70% since mid-December. Since then, Ether went from trading at a low of $117 to a high of $196 early February. Despite the substantial momentum, it seems ETH is reaching an exhaustion point.

In fact, the TD sequential indicator recently presented a sell signal on ETH’s 1-day chart. The bearish formation was given in the form of a green nine candlestick. Now, this technical index estimates that Ether is bound for a one to four candlesticks correction or the beginning of a new bearish countdown. 

A red two candlestick trading below a preceding red one candle could serve as confirmation of the sell signal.

Adding credence to the bearish outlook, a bearish divergence between the price of Ether and the Relative Strength Index (RSI) is forming within the…