Ethereum Faces Death Cross, Worst August in 5 Years

Ethereum Faces Death Cross, Worst August in 5 Years

Ethereum (ETH) price is en route to registering its worst August performance in the past five years. Despite a decent rebound in the past two days, the Ethereum price is about to register a death cross between the 50 and 200-day Moving Averages (MAs). However, the worst-case scenario for Ethereum's price action has already happened, but another retrace before an inevitable rally to an all-time high could happen soon. Furthermore, Ethereum's daily Relative Strength Index (RSI) continues to hover in the oversold territory, the lowest level since September last year.