Ethereum Rally into Constantinople Fork / Alt-Season (Risk on)
Updated
Ethereum is sitting on strong historical support vs. BTC and is exhibiting bullish divergences in both momentum and volume.
With the upcoming Constantinople hard fork, which is reducing the block reward from 3 to 2 Eth, Eth may rally into the event after months of downtrend vs. BTC.
As is indicated via the chart, Ethereum rallies vs BTC (eth outperforming btc) have led to a risk on approach to higher risk crypto assets known as altcoins. Many refer to this event as "Alt Season".
If Ethereum can manage to rally vs. btc, other higher risk assets may see explosive rallies, as sellers have become extremely exhausted and sell side liquidity is almost non existent.
With the upcoming Constantinople hard fork, which is reducing the block reward from 3 to 2 Eth, Eth may rally into the event after months of downtrend vs. BTC.
As is indicated via the chart, Ethereum rallies vs BTC (eth outperforming btc) have led to a risk on approach to higher risk crypto assets known as altcoins. Many refer to this event as "Alt Season".
If Ethereum can manage to rally vs. btc, other higher risk assets may see explosive rallies, as sellers have become extremely exhausted and sell side liquidity is almost non existent.
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So far so good... probably best to take a little off here to reduce risk.
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Eth likely to retest .03 level. Definitely a lack of momentum following xmas, but Constantinople fork still a strong news event / should push eth through.
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Good time to start entering
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