As bitcoin readies for its own breakout from a bullish pennant, $ETH is traversing inside of a bullish flag that encompasses the 200-day moving average.
Time for ethereum?
The current more than 100% upward move from bitcoin since the beginning of this year has eclipsed the 50% move that ethereum has gained over the same time period. Also, the 28% rally over the last two weeks for $BTC compares favourably to $ETH’s 16%.
With this sort of price action very much in bitcoin’s favour it must be wondered if the time for a swing towards ethereum is approaching? Bitcoin broke through its own heavy resistance and the all-important 200-week moving average, so now it is ethereum’s turn.
$ETH is currently traversing a large upward sloping channel and last touched bottom around two weeks ago at a price of just over $1,500. Since then, the price has broken a down-sloping trendline and has come up against the 200-day moving average.
Source: Trading View. Daily time frame.
$ETH bull flag
Lookin
We współpracy z: https://cryptodaily.co.uk/2023/10/ethereum-biding-time-before-breakout
