ETH: Altcoin Momentum Builds After Bitcoin Move
ETH at $2525.55 eyes gains as Bitcoin rallies, with altcoins positioned to lead per @CryptoMichNL analysis and 4h technical confluence.
SourceAnalysis
Bitcoin strong upward move sets the stage for ETH to accelerate, according to @CryptoMichNL, as a standard correction versus BTC gives way to altcoin dominance. At $2525.55 the pair holds a bullish trend structure with price above the EMA50 support at $2441.44 and the EMA200 at $2227.84, while the MACD golden cross at 16.52 reinforces continuation. Price testing the upper Bollinger resistance of $2547.11 alongside neutral RSI at 66.41 points to a measured pullback toward the 50-EMA before the next leg higher in this Bitcoin-to-altcoin rotation phase.
Michaël van de Poppe
@CryptoMichNLMacro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast