Ethereum (ETH) One Step Away From Kicking Off The Altcoin Rally

POLONIEX:ETHUSD   Ethereum / U.S. Dollar
It is a rare sight in the crypto community to see Ethereum (ETH) in the green after a long queue of weeks in the red. The daily chart above for ETH/USD shows that Ethereum (ETH) is just a single step away from kicking off the altcoin rally. This chart is the perfect example of how history may not repeat itself but it does rhyme. The pattern of rise before 2018 bears a striking resemblance to the one just after 2017. Similarly, the correction that followed after 2016 resembles the one that followed 2018. If history is any indication, we can presume that Ethereum (ETH) has completed its correction at this point and found a bottom.

RSI for the above chart for ETH/USD presents a very similar picture. The RSI has been trading in a symmetrical pattern inside a semicircle. It has already bottomed out and is now preparing to break the resistance and begin a new trend. If the RSI is considered to have been in symmetry, we will see three months of September as inflection points. The first month would be September 2016. At this point, the price turned bullish and began a rally as shown by similar movement on the RSI . The next point would be September 2017 which from a mathematical standpoint can be considered as global maxima for the curve and was the turning point that led to the end of the rally and the beginning of the correction. The next point would be September 2018 which can be considered another inflection point for the beginning of a new curve that would once again begin a new trend for Ethereum (ETH).

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JefeCaan TheGrandestOfAllGrandMasters
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