The news comes at an interesting time for the ETHUSD chart, which is trapped in a triangle.
Width % has narrowed to just 12 percent, its tightest range since the last rally started on July 21.
ETHUSD also had an inside candle last week. This week it probed slightly below that $334.46 low below rebounding, potentially resulting in a false breakdown.
Two other indicators stand out technically. First, ETHUSD has steadily held support at its 100-day ( ). Interestingly, BTCUSD has respected that same line.
Second, has started to turn positive on both ETHUSD and BTCUSD .
Overall, the confirmation isn’t super clear. But a lot of potential positives are starting to favor the big cryptos. Traders may want for watch for signs of accumulation. There may not be much of a pullback if BTCUSD or ETHUSD start running.
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