ETHBTC has typically been a good proxy for predicting altcoin runs. The setup is looking promising again. Low volatility shows prices forming a base. And with cycle indicators at lows this may be a good time to start buying Ethereum and solid projects built on top of it.
From a fundamental point of view we are still waiting for Ethereum to move from proof-of-work to proof-of-stake. When that is announced expect prices to move rapidly. Of course, nothing is guaranteed and we could see a breakdown of this chart pattern. A weekly close above 0.04 should be a good sign that the bulls have regained control.
I remain optimistic and long on this idea but we'll have to wait and see to find out.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.