✴️ Ethereum Daily 100% Bullish (Name Your Altcoin)

18 Okt 2023

Ethereum & Bitcoin normally move together but this time somehow Ethereum is staying behind... How can this be? Will it catch up?

Let's ask the chart!

Ethereum Daily

While there is yet no new highs, the price action compared to Bitcoin is basically the same.

A major drop 17-August that leads to consolidation.
A challenge of resistance 16-October.
A day of consolidation yesterday.
Continuation slowly but surely happening today.

We have a strong bullish divergence based on candle closure since June vs the MACD and RSI.

After a rejection at EMA50, Ethereum is moving daily above EMA10 with mid-term and long-term higher lows.

While it has been lacking in some ways, there isn't much difference, Ethereum will also move ahead.

Remember that Ethereum produced no new lows in November 2022, the bear market low happened in June 2022. This small difference can show with price action as we see today.

End game: When the Cryptocurrency market is bullish both Bitcoin and Ethereum grow, this time it won't be difference, it will be the same.

The charts supports this assumption.
Ethereum 100% bullish. | Patience is key.

Namaste.