Ethereum has defended the $1,900 level multiple times since July. This 'double-bottom' pattern signals institutional accumulation and is a classic bullish setup.
Bitcoin and Ethereum spot ETPs have seen record inflows in August despite price weakness. Today's rally suggests these flows are accelerating now that macro conditions clarify.
Most altcoins underperformed today as traders rotated into Bitcoin and Ethereum. This is a sign that risk-on sentiment is measured, not euphoric—a healthy dynamic for a recovery.
If Ethereum breaks decisively above $1,930, the next target is the $1,940-$1,960 range where volume historically clusters. A clean break there signals a major shift in momentum.
Four weeks of tight trading followed by a rally on improving macro data is a textbook setup. Traders who watched for this pattern positioned early and are now seeing confirmation.
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