Over time ETH has exhibited its own unique price movement
Compared to BLX where price continually moves down when transitioning from one fib ring to another, can be viewed on my chart below
In my view this decoupling was sparked by a small parabolic move that occurred last year
Price is currently sitting right at the exit of one fib ring and entering another (red square)
This could end up very bullish if it acts as a bullflag, which it likely will, based on the structure on a lower timeframe.
The Ethereum ecosystem is adapting so fast, its difficult to keep up, price should reflect this.
Compared to BLX where price continually moves down when transitioning from one fib ring to another, can be viewed on my chart below
In my view this decoupling was sparked by a small parabolic move that occurred last year
Price is currently sitting right at the exit of one fib ring and entering another (red square)
This could end up very bullish if it acts as a bullflag, which it likely will, based on the structure on a lower timeframe.
The Ethereum ecosystem is adapting so fast, its difficult to keep up, price should reflect this.