Ethereum

Convergence

Bitcoin

Divergence

<p>Ethereum sentiment is at extreme lows despite an ongoing recovery in the cryptocurrency market. Controversy continues to keep the top altcoin from joining in the fun.</p> 
<p>But a rising tide lifts all boats, and Bitcoin’s breakout could have been enough to revive Ether, albeit later than other coins. The recent rise has been enough to put the top-ranked altcoin on the cusp of a long-term bullish crossover. Here’s what the signal means.</p> 
<h2 id="ethereum-readies-monthly-bullish-lmacd-crossover">Ethereum Readies Monthly Bullish LMACD Crossover</h2> 
<p>Ethereum price has consistently made higher lows throughout 2023 and since its June 2022 bottom. Nearly 18 months later, ETHUSD is poised for a bullish crossover of the 1M LMACD — the logarithmic version of the Moving Average Convergence Divergence indicator.</p> 
<p>This version of the tool is used to better compare historical price movements with current price action. A bullish crossover represents a major momentum shift, made even more powerful due to the crossover taking place right at the zero line in the indicator. Passing above the zero line acts as a secondary signal, showing that momentum has strengthened into bullish territory.</p> 
<p>Such a crossover in the past has led to a sustained bull market for Ether and altcoins, especially the DeFi space. The last bullish crossover appeared in May 2020, lasting until a bearish crossover in January 2022 caused a lengthy crypto winter.</p> 
<p><img decoding="async" loading="lazy" class="size-medium wp-image-263113 aligncenter" src="https://bitcoinist.com/wp-content/uploads/2023/11/IMG_6116-640x398.png" alt="Ethereum bullish" width="640" height="398" srcset="https://bitcoinist.com/wp-content/uploads/2023/11/IMG_6116-640x398.png 640w, https://bitcoinist.com/wp-content/uploads/2023/11/IMG_6116-980x609.png 980w, https://bitcoinist.com/wp-content/uploads/2023/11/IMG_6116-768x478.png 768w, https://bitcoinist.com/wp-content/uploads/2023/11/IMG_6116-1536x955.png 1536w, https://bitcoinist.com/wp-content/uploads/2023/11/IMG_6116-2048x1274.png 2048w, https://bitcoinist.com/wp-content/uploads/2023/11/IMG_6116-750x466.png 750w, https://bitcoinist.com/wp-content/uploads/2023/11/IMG_6116-1140x709.png 1140w" sizes="(max-width: 640px) 100vw, 640px"></p> 
<h2 id="domino-effect-could-trigger-triangle-breakout-revisit-aths">Domino Effect Could Trigger Triangle Breakout, Revisit ATHs</h2> 
<p>The bullish crossover in the LMACD is not confirmed, but a breakout of the 1M On-Balance Volume (OBV) indicator could hint at the eventual outcome. OBV is called the “smart money” indicator, able to help traders spot moves early by tracking subtle changes in volume.</p> 
<p>All of these signals point to a possible breakout from an ascending triangle pattern that ETHUSD has been trading in for nearly 18 months. The target of the chart pattern projects Ethereum price revisiting all-time highs, making a breakout especially meaningful.</p> 
<p>If Ether joins in the ongoing bullish price action next to Bitcoin and other altcoins, it could provide more breadth necessary for a dramatic crypto bull run.</p>

Ethereum Long-Term Bull Crossover Imminent, What The Signal Means

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Bitcoinist

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