The Bitcoin rally in the last few months is certainly very impressive.
Even more impressive are the profits of Ethereum . The second-largest cryptocurrency reported more than 13% gains in the last 30 days, according to data from Coin360. Over the same period, Bitcoin fell 4%, while some altcoins such as XRP and BSV lost almost 10%.
The ability of Ethereum to perform better than other cryptocurrencies for some analysts confirms that there is still a rise for altcoin.
One analyst wrote the following about the asset’s ability to stay above key resistance levels.
“ETH Daily [graphics] – The bulls have made pretty good graphics without any real pressure to buy.”
One well-known analyst fears that a ‘ storm ‘ is taking shape in Ethereum, citing two technical factors that suggest a reversal of the trend.
He shared a chart in which ETH reported two signs that it was preparing for a downward movement.
1 – TD consecutive indicator is on candle ‘ 9 ‘, most common in reversals of the trend.
2 – The price was rejected on a downward trend.
Another trader shared a similar sentiment . His chart shows that when Bitcoin was rejected at $ 10,400 this week, Ethereum also suffered a $ 250 rejection.
The rejection happened just as the price reached a downward trend line, which has limited the rally in recent years, suggesting that we may see a decline to $ 150.