Ethereum is Attempting to Hold Support

Neither this post nor any other on cryptofal.com should be taken as financial advice. It is not.

ETH is attempting to hold support after breaking above resistance yesterday.

It’s attempting to hold above $3,950 most of today as ETH and altcoins retake a large portion of market dominance. BTC dominance is at 40.6% and ETH dominance is at 21.4% as ETH and BTC hold fairly steady today. The overall cryptocurrency market cap is $2.23 trillion currently with the overall volume just below $100 billion at $91 billion.

The MFI is attempting to swing upwards and the MACD is as well, but it’s struggling a bit. If ETH receives some sideways movement in the coming days, that will likely only strengthen support in this region.

While BTC and ETH have had a fairly neutral day, some of the larger-cap altcoins are having successful day.

YFI is a Defi yield farming protocol that’s had a fairly successful day today. With a more than 20% increase today alone, YFI has made some phenomenal gains. The MACD and the MFI have swung upwards significantly with the MFI now entering overbought territory.