Trader predicted the price movement of Ethereum
Vadim Shovkun, a practicing trader and founder of Crypto Shaman project, tells about the current market situation.
There is minimal volatility on bitcoin in the market, the last review is relevant. So let's look at the situation on the second most capitalized cryptocurrency.
The first thing to look at is the strength index in correlation with bitcoin. Ethereum looks a bit stronger, the last growth wave is not absorbed, the overall structure of HL\HH is not broken. At the moment, ethereum is 17% away from its low of the last wave (bitcoin has only 7%).
ETH is now trading within the main horizontal volume of the previous growth wave (HVN). If bitcoin fails to consolidate, the coin will pass -34% by the next horizontal volume resistance (compared to -23% for BTC). As part of the rebound on momentum, growth is currently projected at +22%.
