Recent analytical data indicate strong bullish signals for ETH, creating a positive backdrop for other altcoins.
Clarifying the Situation with ETH
Analyst van de Poppe noted that a higher low has formed on ETH’s chart, preparing conditions for a powerful breakout. The latest price swings confirm the bullish divergence and indicate a clear trend shift upward.
"The higher low confirmed, and then a massive breakout took place. The trendswitch is clear," van de Poppe commented.
Chart Analysis: From Divergence to Breakout
The accompanying chart illustrates ETH and BTC forming a falling wedge that resolved decisively to the upside. Key points highlighted include:
* Liquidity zone taken out * Crucial resistance broken * Strong follow-through with expanding volume
Altcoins Showing Bullish Divergences
While ETH displays a daily bullish divergence, van de Poppe notes that many altcoins are flashing weekly bullish divergences. This longer time-frame signal often precedes sustained uptrends.
In conclusion, the strengthening of ETH and similar signals in altcoins may indicate an overall recovery in the cryptocurrency market, anticipating potential changes in trend.
