After both Sunday and Monday's positive test of the previous top of the bullish channel, we can take a glimmer of hope in this new support.
In my previous post I really wanted this to happen, but we must be cautious and not make futurology.
If you did not read my previous post, go so you have the chronology: "Here"
So let's move on to the analysis:
Beyond the obviousness of the price opening the day above the Fibonacci 1,272 level, we can observe in the last hours of the day that despite the fact that Bitcoin broke very strongly to the upside, Ethereum did not FOLD its hand maintaining its price and even managing to pass the level just mentioned.
It is too early to say that we are already facing the continuation of a new upward movement, but we can say that Ethereum has a good bullish strength.
Por el lado del RSI, apoyado en lo recien dicho, claramente hay una fuerza alcista notable, y no es para nada descartable que si el indicador empieza a subir, Ethereum tambien.
Stochastic continues higher and has very little room to move higher.
Another important fact: In these 5 days it was observed that while Bitcoin and its dominance rose, Ethereum remained in the same price range , and its dominance fell. From this itself we can highlight (And I will not get tired of saying it) that Ethereum has a lot of strength to go up even losing dominance.
Conclusion:
Regardless of what the price does in the next few days, the signs point to a strong inclination of Ethereum to rise in value.
Be patient and watch, this is a good time to train your mental fortitude.
Let me know in the comments if you want me to upload a post analyzing the possible destinations in case it goes up or down.
