$ETH Compared to BTC, everyone is paying more attention to ETH. ETH surged on the 6th and 7th, with a price increase greater than BTC. I mentioned in my last post that in March, when BTC was at 73800, ETH reached 4000 points, and when BTC was at 76900, ETH did not break through the 3000 mark. After all, it is the second-ranked mainstream coin by market cap, and it still has a solid foundation.
7th-8th:
High Point:
BTC rose from 76400 to 76900, an increase of 500 points.
ETH rose from 2669 to 2958, an increase of 289 points.
It can be seen that ETH is gradually increasing in price, reducing the gap with BTC's synchronous resonance.
So when BTC is in the process of rising and then shows a correction, ETH will generally display one of three types of movements:
First: BTC falls, ETH falls less.
Second: BTC fluctuates, ETH rises.
Third: BTC completes its correction and rises, ETH surges.
In summary: when BTC rises again in the second half of November, ETH's increase will be even more pronounced.
Currently, around 2960 is a historical resistance level, and around 28 is a support level. As BTC is expected to correct next, ETH is likely to come down to 2770-2745.
What needs to be considered now is that BTC is currently in a slight upward correction trend, similar to wave theory, where capital is testing the area for selling. However, whether ETH will break through the 2960 resistance during this fluctuation period is uncertain, as the title of the altcoin leader is not empty. If it breaks, will ETH's support point move up again during a significant BTC correction?
Solid: To play ETH well, it must be viewed alongside high-quality altcoins. During the rise in the second half of this month, you can consider buying some ETH spot, as its increase will be greater than that of BTC.
