Chart of the Day
ATH, and then what? Ether has been side-stepping since reaching its all-time high on Thursday. Indicators point to the bulls still very much in play. The MACD indicator is converging to the signal line post-ATH consolidation. The 14-day RSI remains in a neutral zone, looking to climb higher. We will observe closely how this pans out. In retrospect, ETHBTC has been trending inside of an ascending channel since October 2020. Recent trends suggest that a retest of the channel resistance may be imminent.
Talk of the Town
Move over, Simba; there’s a new Doge in town. Althoughmainstream media sealed the episode of Musk’s dabbling with cryptos with the limits of ‘tech billionaire shout-outs’, the fact remains — Dogecoin once again rallied more than 50% after a series of Musk’s tweets and memes went live. I mean, come on, who can resist a Lion King meme?