ETHUSD : FA meets TA -- > Accommodating ETH2.0 + Defi Pulse
While the altcoins market will continue to flush out the nuisance caused by the ETH based ICOs from 2017, however the alt king sneakingly seems to setup for it next bull run in long term.
With the actual use case projects under DeFi infrastructure keep being build around ETH, one could argue that even the BTC maximalists can never with a stern voice disregard the altcoin ETH as a shitcoin.
Looking at the long terms trend lines, looks like ETH has flushed out most of it 2017 ICO bubble sins, and is ready to accommodate the next wave buying the hype around DeFi leading to its scalability .
I still believe BTC will return to full bullish mode within few days, however the BTC dominance might consolidate in short term or even take a hit, which would only mean ETH bouncing harder and before BTC in contrast to the infamous BTC-Tether-alts cycle theory.
This would only be amplified if ETH disconnects its path and decreases its correlation with other shitcoins movement on the charts itself, just like it seems to be doing by pushing its use case on Fundamental side.
The scenario could fail in short term, if ETH falls very hard surpassing the 165$ long term support. If anything would see that as a buying in opportunity around 130$ (which I see as the ultimate bottom if BTC takes a hit with a hanging man pattern in the immediate following days).
With the actual use case projects under DeFi infrastructure keep being build around ETH, one could argue that even the BTC maximalists can never with a stern voice disregard the altcoin ETH as a shitcoin.
Looking at the long terms trend lines, looks like ETH has flushed out most of it 2017 ICO bubble sins, and is ready to accommodate the next wave buying the hype around DeFi leading to its scalability .
I still believe BTC will return to full bullish mode within few days, however the BTC dominance might consolidate in short term or even take a hit, which would only mean ETH bouncing harder and before BTC in contrast to the infamous BTC-Tether-alts cycle theory.
This would only be amplified if ETH disconnects its path and decreases its correlation with other shitcoins movement on the charts itself, just like it seems to be doing by pushing its use case on Fundamental side.
The scenario could fail in short term, if ETH falls very hard surpassing the 165$ long term support. If anything would see that as a buying in opportunity around 130$ (which I see as the ultimate bottom if BTC takes a hit with a hanging man pattern in the immediate following days).