For Ethereum, we had the accumulation phase of a lifetime at $235, and the re-accumulation phase of a lifetime at $400. We discussed the highly anticipated "Ethuary" which was the ETH/BTC momentum shift in January, preceded by the Q4 bleed. Now we find ourselves in a similar position as before. Bitcoin was in price discovery again, but now has corrected, and the ETH/BTC valuation is dropping. We know that for Ethereum to make a major move, it would come after Bitcoin volatility reduces. Until then, Ethereum is likely in a holding pattern. Additionally, as people take profits from lower marketcap altcoins, they will likely seek the relative safety of Ethereum. There is likely an Ethereum tsunami coming, but we have to be patient for its arrival. TA Video by Benjamin Cowen.
