Ethereum ETH - More upside is coming! | Elliott Wave | Channel
- People are calling for ETH to flip BTC, but this is really a serious thing. If BTC loses its #1 position, then it could be a catastrophic scenario and may cause a panic sell of BTC. Of course, this event will take down all coins.
- But I don't really see any reason for ETH to flip BTC. If you want to bet on it, then good luck, but the chances are really low in my opinion.
- But overall, Ethereum is still one of the strongest altcoins in the crypto market at this moment.
- I expect one more impulsive wave to the upside to complete the superior impulsive wave (as per my Elliott Wave count).
- Also on the daily chart, we have an ascending parallel channel with a very well respected upper trendline.
- There is absolutely no bearish divergence on the RSI indicator, so the uptrend is really strong and stable. Of course, there is a possibility that we will retest the parallellity of the channel from the downside.
- Look at my ideas about Bitcoin, alt season and BTC dominance in the related section down below.
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