Why has Ethereum $ETH performed best among mainstream coins during tonight’s market rise?
You can check my previous post👇 Ether has been staying around the moving average without dropping below it, while other mainstream coins’ pullbacks have been deeper than Ether’s. On the surface, it looks relatively strong. If we’re going long, then of course we should go with strength.
Before a wave of upward or downward movement at the daily (1D) level, it’s usually been consolidation—consolidation—then consolidation, and this time is the same. After the daily breakout above resistance and moving above the moving average, it pulled back for about 20 days before continuing the breakout tonight.
Now we’ve just come out of the bear market, and the main upswing hasn’t started yet—there’s always an opportunity to enter the position.
You can check my previous post👇 Ether has been staying around the moving average without dropping below it, while other mainstream coins’ pullbacks have been deeper than Ether’s. On the surface, it looks relatively strong. If we’re going long, then of course we should go with strength.
Before a wave of upward or downward movement at the daily (1D) level, it’s usually been consolidation—consolidation—then consolidation, and this time is the same. After the daily breakout above resistance and moving above the moving average, it pulled back for about 20 days before continuing the breakout tonight.
Now we’ve just come out of the bear market, and the main upswing hasn’t started yet—there’s always an opportunity to enter the position.
