Several coins had a lot of volatility today, especially vs BTC... However ETHBTC held strong and looks ready to go higher. Ethereum suffered in Feb-March because it was the best performer from larger coins. High fees, increased competition, froth in DeFi, the buy the rumor sell the news situation with the CME futures... led Ethereum to correct 35% vs BTC and underperform nearly everything. Now this picture seems to be changing.
ETHUSD is only 95-100% from its 2018 ATH, while the consolidation below the ATH in 2021, the breakout and retests have 'produced' a very clean chart which looks really strong.
ETHBTC looks like a massive Head & Shoulders pattern, while 0.054 was a key breakdown level that was never retested (acting like a magnet). Now that more new blood is coming into this market, I think ETH will be one of the biggest beneficiaries. The CME futures, ETHE and ETH 2.0 as well as most projects building on Ethereum are definitely things that can't be underestimated despite its current shortcomings.
Long and Strong!
ETHUSD is only 95-100% from its 2018 ATH, while the consolidation below the ATH in 2021, the breakout and retests have 'produced' a very clean chart which looks really strong.
ETHBTC looks like a massive Head & Shoulders pattern, while 0.054 was a key breakdown level that was never retested (acting like a magnet). Now that more new blood is coming into this market, I think ETH will be one of the biggest beneficiaries. The CME futures, ETHE and ETH 2.0 as well as most projects building on Ethereum are definitely things that can't be underestimated despite its current shortcomings.
Long and Strong!
I made a video on youtube so I won't go too deep here, as it was 45 mins long... but Ethereum could flip Bitcoin and take its place as the king in the market.
Although the target was reached there are no signs of ETH slowing down right now.