Ethereum - A Crypto Markets Catalyst
Ethereum has always kind of been serving as a catalyst for the altcoins market. And if ETH starts to move up, you can bet that many of the ERC20 tokens and some of the other altcoins will follow as well, and even faster than ETH.
Volumes- if we look at the Binance chart, the place where ETH is most traded - is showing a climax bottom
If a market arrives on a new low while volumes reach a new high, then this hollow has good chances of being retested , or even overrun. A climax bottom is almost everytime retested upon low volumes, offering an excellent buy opportunity.
Also, we can see this kind of pattern happening before, creating an upwards volume curve before the storm.
Stochastic - On the weekly, stochastic is extremely bullish.
There is a lot of room for price to make up from its losses. If it can keep its price around 35000 Satoshis it will be a sign of an upcoming uptrend towards the 50 days moving average which is at 45k satoshis or even higher.
But what is also going to bring the price higher is CBOE Launching futures contracts in the upcoming months, a recent News that could bring new players into the game.
Written by Cyatophilum - Created 8 years ago - Last edited today
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