One of the many determinates in cryptocurrency that can be noted time and time again is the fact that Ethereum is King of Altcoins. While the runaway train that is Bitcoin continues forward at an incredible velocity many Altcoins have not yet taken the same path to pass previous all time highs. Today could mark one of two things: Ethereum breaks All Time High triggering Extreme Volatility for Altcoins Ethereum finds resistance at All Time High if BTC does not continue in a sideways or upward trajectory.
One of the many determents in cryptocurrency that can be noted time and time again is the fact that Ethereum is King of Altcoins. While the runaway train that is Bitcoin continues forward at an incredible velocity many Altcoins have not yet taken the same path to pass previous all time highs. Today could mark one of two things:
Basically if Ethereum gets a confirmed break above its All Time High around $1430 things could get a little crazy. If you thought Altcoin Swings were Crazy before just you wait to see what happens next. Depending on Bitcoin of course...
The image below is the ETH/USDT on the 30 minute chart and represents the making of a volume confirmation breakout for ETH/USDT (red arrow in bottom right corner). If Ethereum can continue its Break above $1350 and confirm a 4hr-1day candle close. I believe this could be a nice continuation pattern in the fact that some time based consolidation has occurred. This bull run is getting insane..
Ethereum Market Composition tells us that 86% of all cryptocurrency market cap revolves in just 2 Cryptocurrencies.... Bitcoin and Ethereum.
Market Cap of Ethereum on 01.18.21
Breaking previous resistance of 147B from 01.04.18 Its almost uncanny how almost exactly 3 years later ETH breaks its ATH Market Cap just months after BTC.
Bitcoin continues to defy gravity pushing the limits on its ATH Market Cap set on 01.21.21 at 780B.
This bull run is really gaining some steam. We must be cautious in these conditions. Again we are riding the coattails of Bitcoin when adding Altcoins into the equation.
Whiteness History! The unity of individuals who want to control their value can only be represented by the TOTAL chart on Trading View. Finding support above a $1 Trillion Market Cap for the entirety of Cryptocurrency. This is a moment in history we will never forget!!
Stay Strong Friends!
Killer Whale Crypto