✴️ Ethereum Now & Later In The Year 2024 (Full Analysis)

With Ethereum's final jump, total growth since June 2022, when a major market low was hit, now amounts to 209%. This is shown on the chart right here:

Recent bullish action is good and strong. While other Cryptocurrencies are clearly showing tendencies of moving lower and moving lower, the ETHUSDT chart doesn't look like those. We can see very strong rising volume while prices grow.

Will Ethereum keep going forward while the rest of the market crashes because it has been lagging behind for so long?

Yesterday's session is a strong bearish candle.
Coming up at the top of a trend/move, it can signal that change is coming. A neutral candle which closed red with really high bear volume.

If we had to look at and consider Ethereum in isolation, I admit it would be hard to tell if a correction is really going to develop here, as the current setup can easily lead to higher prices but, when we consider the rest of the Altcoins market —Cardano, ChainLink, PolkaDot, Dogecoin, Avalanche, Injective, etc., we become aware of the bearish potential.

So any bearish signal on this chart gains additional strength because others are bearish and Bitcoin just went through its very own kind of "Merge".

Here is the daily RSI:

It peaked in November 2023. We have lower highs and a strong bearish divergence with ETHUSDT.

The 11-Jan peak is lower even than the 5-Dec peak, which reveals weakness.

Ethereum is likely to move with the rest of the market... We just saw the last hurray... After we go down, we will move back up.

👉 It will be a great year for Cryptocurrency this 2024.

Patience is key!

Thanks a lot for your support.

Namaste.

Comment:

It is still early for Ethereum but it won't be early forever.

The action just yesterday broke below EMA10, but it will go lower together with the rest of the market.