At the beginning of September, the correction of the alcohol may terminate with Ethereum (ETH)


  Ethereum Chart With Values ​​

Ethereum (ETH) seems to have reached the full extent of its correction against Bitcoin (BTC). The daily chart above for ETH / BTC shows that the price was traded in a wedge that fell from June and now has reached the end of it. The EMA / ETH / BTC alignment still remains bearish, but other factors indicate that a turnaround is behind the corner, not just for Ethereum (ETH) but for the whole altcoin market . ETH / BTCchart shows that the price of Ethereum (ETH) has found support in the Fibonacci Bollinger bands and is likely to escape the wedge that falls at the beginning of September at the latest.

Ethereum (ETH) is the largest currency platform and the second largest currency by market capitalization. If it moves against Bitcoin (BTC), the rest of the cryptocurrency market follows as we have seen in the past. The conditions this time are ripe for an altcoin season as most cryptocurrencies, including Ethereum (ETH), have completed more than 80% corrections from their all-time high. The VIX profile for the chart above shows that the price of Ethereum (ETH) has thrown us a few signs over the last few weeks. The last few days have shown consecutive green bars on the VIX profile which are a strong sign of a trend reversal.

The total market capitalization of cryptocurrencies excluding Bitcoin (BTC) is $ 99.7 billion. Ethereum (ETH) dominates 28% of that market with a market capitalization of $ 27.9 billion. In addition, most of these altcoins are coupled to Ethereum (ETH) on most trades, which means they are directly influenced by an increase or decrease in the price of Ethereum (ETH). Thus, if Ethereum (ETH) completes a correction and reinforces itself for a reversal of tendency, it is reasonable to assume that most of the altcoins, having also completed more extensive corrections, will follow. The dominant position in the Bitcoin market (BTC) is currently 53.7%, but is expected to fall in the weeks to come when the rally begins altcoin

 Ethereum Chart With Values ​​

Ethereum (ETH) is preparing for a breakout in a more aggressive manner in the shortest times. The 4H chart above for ETH / USD shows that the price is about to burst a triangle that has been trading since August 16, 2018. The Squeeze Momentum profile for the chart above shows that the bearish momentum is lost and that a series of rallies bulls can be expected in the days to come. Ethereum (ETH) is currently declining 81% from its record high of $ 1,448 but future prospects look brighter than ever.

The stochastic conditions of the above chart confirm our upward trend since the price risks breaking the downward resistance before the beginning of September. The EMA alignment remains bearish even in the 4H timeframe, but the gap between 50 EMA and 100 EMA is starting to fill while the price observes a reversal of trend. The volume is drying up in shorter time frames, which means it has now become easier for the bulls to turn the market with much less effort.

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