ETH: Outperforms Bitcoin in Momentum Despite Weak Markets

Michaël van de Poppe notes that ETH is showing more momentum than Bitcoin at this point. Even though the markets are relatively weak, ETH is outperforming Bitcoin in its latest momentum as the BTC pair is just doing significantly better.

ETH has seen a sweep yet continues to move upwards in a stronger manner, indicating more demand in the entire ecosystem.

Price sits at $2264.35 inside the Bollinger Bands with upper resistance at $2296.25 and lower support at $2233.92. The bearish structure keeps price below the EMA50 at $2294.27 and the EMA200 at $2427.37, while neutral RSI at 46.63 and the MACD golden cross at -7.39 suggest the current push may stall at the upper band before any retracement toward the 50-EMA support.