Small cap altcoin market cap (excluding top 10) is at 245.79B on the 4h, pulling back from the 252B highs and holding well above the ascending trendline from mid September.
$ETH/BTC is trading at 0.03188, holding the rising trendline from August near 0.03170, keeping ETH's relative strength against BTC intact and continuing to favor the broader alt rotation.
Hold the trendline and this relative strength keeps favoring alts into the next leg. Lose it and BTC dominance regains the upper hand.
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ETH is at 2,693.23 on the 8h, consolidating just under the 2,800 highs after a strong run, still riding well above the multi month ascending trendline from mid August.
Bull case: hold above 2,600 and resume the push toward fresh highs above 2,800. Bear case: lose 2,600 and correct back toward the trendline near 2,280. #Crypto #Trading #Binance #BTC #CryptoAnalysis
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