This Ethereum (ETH) chart demonstrates a consolidating phase, forming a potential ascending triangle. Short-term RSI is neutral, suggesting limited momentum, while stochastic indicates a slight bearish divergence. However, the overall structure indicates bullish potential in the longer time frame, supported by key trendline strength. ETH remains bearish in the short term but is likely to break upward, validating its longer-term bullish outlook.
The TOTAL2 chart, representing the altcoin market cap excluding Bitcoin, shows a clear "bull flag" pattern forming, indicating potential bullish momentum. The RSI is moderately neutral, suggesting consolidation before a breakout. The stochastic oscillator highlights oversold conditions, reinforcing a probable upward move. With the flag's breakout target pointing towards higher levels, the chart strongly indicates a bullish trajectory for the longer time frame. Short-term bearishness may persist during consolidation, but the overall structure remains bullish for altcoins. This aligns with the trend seen for ETH, supporting a bullish outlook for the altcoin market in the coming periods.
Entry: 3331.45 or Market Price
1st Tp: 3403.66
2nd Tp: 3489.24
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