Look at this, the first peak for Ethereum happened 13-May after the start of the recovery and the end of the downtrend. The lowest point happened five days later on 18-May and there has been no new lows since. Ethereum has been in a bullish consolidation pattern, a classic bullish flag.
This kind of dynamic clearly reveals a bullish bias and certainly, Ethereum is already trading pretty low compared to its last high.
A new and most interesting signal comes from the stock COIN, for Coinbase. This stock went ahead and produced a very strong bullish breakout yesterday with a green candle reaching +16%. COIN’s chart and ETH are almost identical, exactly the same. Since these two move together, we can expect Ethereum to follow suit and do the same. We can expect a bullish breakout to happen any day now. Consolidation has been going long enough. It is time for the market to grow.
Some of the smaller altcoins continue to move forward, this is a signal that should not be ignored.
Namaste.
