Cred, A popular crypto analyst notes how one Ethereum (ETH) chart is perfectly looking strong currently.
Furthermore, the analyst, Cred calls out the Ethereum chart against Bitcoin (ETH/BTC). Then, goes on to describe it as “one of the best-looking macro charts in crypto at the moment.”
More so, Ethereum is worth 0.088 BTC, or $4,200.33 currently.
Also, Cred confirms that ETH is ready to continue making gains against BTC.
But, he earns that his overall trading framework is still “defensive.”
“This disconnect between Bitcoin and Ethereum is either a completely new paradigm…”
“from April-May (less likely) or a sign that we’re closer to the cycle top (more likely).”
So, Cred explains.
“While the Ethereum/Bitcoin chart is one of the best-looking macro charts in crypto at the…”
“moment, our overall framework is still defensive given…”
“the high time frame weakness that has emerged in Bitcoin/Dollar.”
Additionally, Cred then talks on market strength that Ethereum held $4,000 despite the dip last week.
“It would be fully validated on a daily range breakout above $4480,…”
“which is the range high for now. Any weakness below $4000 would be bearish.”
Lastly, Cred concludes.
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