ETH - POTENTIAL WEEKLY BULLISH DIVERGENCE

An update on last week’s chart. ETH has finally made a lower low on price vs. BTC on the weekly chart, something I have been watching for for over a month. This gives us potential bullish divergence coming out of oversold RSI on the weekly chart, a huge signal of future upside. Weekly divergence can take months to play out, and we can see the divergence remain valid even with much further upside. Further, it does not even become a divergence until we see a clear elbow up on RSI to give us the confirmed higher low.

This adds to my conviction that ETH will outperform in 2024. I am starting to nibble again.