After Bitcoin shot through daily resistance, we now have little brother Ethereum pushing a zone of its own.
But, what's the opposite of catching a falling knife? ;)
Bullish momentum is certainly picking up throughout the entire crypto market and whether that's something you really want to be shorting into is the question you need to be asking yourself.
Keep that in mind when I speak about crypto markets pushing into daily resistance zones.
Ethereum Analysis
Let's start with the Ethereum daily chart.
ETH/USD Daily:
Straight into a daily resistance zone.
Ah, how nicely price has moved between the last support zone and this one. Just a clean, bullish trending market.
But now we're at resistance, it's time to wait and see how strong the momentum really is.
Also, holy shit at the Ethereum monthly chart:
ETH/USD Monthly:
You could argue that Ethereum thanks to DeFi has really started this fresh bull run for the entire crypto market.
So the fact that price isn't even half way to its all time highs, while Bitcoin is about to go through its own, is pretty cray.
Just a thought.
I now have a shitload of copywriting work to get done today. If you're an English native language writer who understands forex, let me know!
Best of probabilities to you,
Dane.
FOREX BROKR | LeoFinance Blog
Daily market analysis.