The beginning of the end for $eth or will it rise?

CRYPTOCAP:ETH.D   Market Cap ETH Dominance, %
ETH is at an important juncture visible through this dominance chart. You can see its dominance has broken through to the downside at a weak spot in the ichimoku cloud. It is also currently below the 77 Vwma with a mere 18 hours to go until this candle closes. The significance of this is that there hasn't been a close below it since July of 2020, right before its run to all time highs. So is this going to cause more downward pressure after the close or is it now the time to buy in anticipation of another bull run. Seemingly as alts rise or fall based on ETH price in the past, I believe the direction of the market, other than bitcoin, will be determined by price action of ether in the coming weeks.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.