Prices are now consolidating after the end of June market-wide crypto pump. The question asked here is whether or not ETH will perform relative to the rest of the crypto market.
Here we have two charts. On the left is the TOTAL3/BTCUSD. TOTAL3 is the total crypto market cap minus BTC and ETH, representing the alt coin market. On the right is ETH/BTC.
On the alt coin chart, we can see that price has retraced to the 0.5 but has not closed below. In technical terms, this is a healthy bullish retracement. On the right however, we see that ETH/BTC has broken below the 0.618, showing the bifurcation in the market that currently stands; ETH is underperforming relative to other crypto alt coins.
Factoring EMAs into the analysis, we can see that the alt coin chart is already testing the 12H 21-EMA while the ETH chart has not officially tested it once.
Optimal alt-coin trading in this phase of the market cycle is likely to require keen discernment and dissection of the overall market to find the best performing names.
Here we have two charts. On the left is the TOTAL3/BTCUSD. TOTAL3 is the total crypto market cap minus BTC and ETH, representing the alt coin market. On the right is ETH/BTC.
On the alt coin chart, we can see that price has retraced to the 0.5 but has not closed below. In technical terms, this is a healthy bullish retracement. On the right however, we see that ETH/BTC has broken below the 0.618, showing the bifurcation in the market that currently stands; ETH is underperforming relative to other crypto alt coins.
Factoring EMAs into the analysis, we can see that the alt coin chart is already testing the 12H 21-EMA while the ETH chart has not officially tested it once.
Optimal alt-coin trading in this phase of the market cycle is likely to require keen discernment and dissection of the overall market to find the best performing names.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.