ETHUSD (Ethereum) – Week 19 – Crawling slowly
Ethereum is coming to Wall Street, thanks to a big financial data supplier. S&P Dow Jones Indices will provide the Ethereum Index that will track its performance.
Many crypto enthusiasts and technologists in this space think that the market capitalization of Ethereum will surpass that of Bitcoin. The smart contracts pioneer is doing so well lately that the flippening narrative returned. With a vengeance, to be precise. The term "flippening" applies to when the market capitalization of ETH surpasses that of BTC. Will that ever happen? Can Ethereum dethrone Bitcoin and become the king of the crypto space? And if so, will it happen this cycle?
Technically, Ethereum is slowly crawling to the upside with an almost empty gas tank. We think it’s time for a correction that will reach at least the minor support area marked on the chart. We advise caution.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Many crypto enthusiasts and technologists in this space think that the market capitalization of Ethereum will surpass that of Bitcoin. The smart contracts pioneer is doing so well lately that the flippening narrative returned. With a vengeance, to be precise. The term "flippening" applies to when the market capitalization of ETH surpasses that of BTC. Will that ever happen? Can Ethereum dethrone Bitcoin and become the king of the crypto space? And if so, will it happen this cycle?
Technically, Ethereum is slowly crawling to the upside with an almost empty gas tank. We think it’s time for a correction that will reach at least the minor support area marked on the chart. We advise caution.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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