Ethereum On Path To A Continued Breakout - Will It Pull Other Altcoins?
Ethereum has broken out of its October downtrend, which previously led to a 64% correction, signaling a potential shift in momentum. It has consolidated above the key $2,100 to $2,300 range and moved beyond its downward price channel. The cryptocurrency is now forming a tight intraday bull channel, having found support at the 200-period MA around the time of the FOMC meeting.
- ▪Ethereum broke out of its October downtrend after a 64% correction.
- ▪It has consolidated above the $2,100 to $2,300 pivot zone.
- ▪Ethereum is forming an intraday bull channel, supported by the 200-period MA at the FOMC.
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