I’m very bullish on ETH coin long term. But ETH dominance looks set for a slide here in the near future to a range of 5-7% if this pattern holds true. A lot of bullish news will be incoming for ETH this year but initially it could lag behind smaller alt coins on gaining market share. I believe ETH to be the best coin to own long term but in the shorter time frame...
Ethereum dominance broke out of long term downtrend.
Flipping the previous resistance and should take off.
The projected price appreciation, should line up with the release of ETH 2.0 and the staking lock up of the supply.
Either now or on the pull back, one way or other.. Long. Caveat if BTC rips through major 10.5K resistance. Seems likely BTC either stays supressed or is just able to follow alts. Halving narrative over. Staking narrative has been taking over, and will probably continue.
This is a simple chart to compare the market capitalization of Bitcoin and Ethereum. Each line represents the percentage of total crypto market cap that is occupied by each of the two digital assets. Scale on the right side is the same for both lines and has units of percent (%).
Nice wedge pattern developed.
We are testing the top of range.
Monthly is showing a potential turn for a big push up.
Bitcoin dominance continues to drop as ethereum dominance seems to show different signs.
We are getting some nice price movement on the weekly and 2 week on bitcoin but we are not out of the gate yet.
Monthly turns are the signs we want when...
Aside from BTC, looks like ETH is back as the benchmark for alts. Especially for "smart" chains. Daresay also for permissioned blockchains. Blockchains still infant. There is a lot of competition out there. Looking ]for those killer apps. Wild west. Show me the use cases !
Compared to bitcoin ethereum dominance has done the opposite. Looks stronger than btc dominance currently.
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Falling Wedge was broken above and the price reached half of the target level already.
Now price forming a Pennant which means a continuation pattern.
Be ready to long when the price goes up to the resistance line of Pennant.
As I wrote 2 days ago that Bitcoin's dominance will be exceeded, it is now showing that we have a double top 70%
For Ethereum we are at the other end of the spectrum. Oversold
Looking like a 12-18 month cycle with a 12% domination isn't out of the question