ETH: Van de Poppe Shifts Momentum From BTC to $3000

Michaël van de Poppe argues BTC will not lead the next leg higher, instead directing attention to ETH strength and a run above $3000 as altcoins hold firm.

Price action on the 4h chart shows ETH at $2465.36 inside the Bollinger band with upper resistance at $2512.18 and lower support at $2447.39; the neutral RSI(14) of 46.82 leaves room for continuation while the MACD death cross and position below the EMA50 at $2470.81 keep the broader structure bearish until a decisive break of the upper band occurs.