Ethereum as indicator for most altcoins

BITTREX:ETHBTC   Ethereum / Bitcoin
Last time when KRAKEN:ETHUSD broke the trend line on May 17th , the bullish altseason was over and investors who are holding this cryptocurrencies have had major losses. COINBASE:BTCUSD has continued it's downward trend as well. The red arrow indicates where ETH is right now, if it breaks current support there might be more pain ahead for alts.

Besides owning Ethereum I watch it as a canary in a coal mine.


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