Interesting chart shaping up
The 6% rise today in ethereum isn’t quiet enough to plant a bullish reversal candle on the chart, but it’s close. If it can get to $4400 or (ideally) $4500 before the close it would be particularly bullish but that’s going to be a tall order.
The chart is showing signs of bottoming here, or at least some more consolidation. That kind of price action is typical ahead of big US holidays. I wouldn’t expect any let up in trading through Thanksgiving and the weekend with all the idle hands doing the devil’s work in churning the market.
What’s also interesting is ETH’s outperformance relative to bitcoin today, which is up 1.8% and not even half way back from Monday’s decline. That might be a signal for what’s coming next.